Question: Given the estimated demand equation Q L E E = 1 3 3 , 5 0 0 - 1 2 5 0 P L E

Given the estimated demand equation
QLEE=133,500-1250PLEE+450PLEVI-571.43PCUESS-1.25INC+0.5POP
and the following current values of the variables, income elasticity demand for LEE is equal to
PLEE=$18
QLEE =50,000(demand for QLEE)
PLEVI=$20
PGUESS=$35
Income INC)=$80,000
Local Target Market Population (POP)=100,000
Given the estimated demand equation Q L E E = 1 3

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