Question: lnQuantX = a0 + a1 lnPriceX + a2 FeatX + a4 DealX Coefficients P-value Intercept -0.1819 0.6383 lnpricex -2.2512 0.0000 dealx 1.3908 0.0000 featx 0.4095

lnQuantX = a0 + a1 lnPriceX + a2 FeatX + a4 DealX Coefficients P-value Intercept -0.1819 0.6383 lnpricex -2.2512 0.0000 dealx 1.3908 0.0000 featx 0.4095 0.0000 3. Which one is correct? a. Demand for X is elastic b. Demand for Y is inelastic c. X and Y are substitutes d. X and Y are complements 4. Which one is correct? a. A $1 increase in price of X is associated with a $2.25 decrease in demand for X b. A 1% increase in price of X is associated with a $2.25 decrease in demand for X c. A $1 increase in price of X is associated with a 2.25% decrease in demand for X d. A 1% increase in price of X is associated with a 2.25% decrease in demand for X

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