Question: Suppose the demand function for a firm s product is given by ln QXd = 7 - 1 . 5 ln PX + 2 ln

Suppose the demand function for a firms product is given by ln QXd =7-1.5 ln PX +2 ln PY -0.5 ln M + ln A where: Px = $15 Py = $6 M = $40,000, and A = $350

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