Question: The empirical demand function for good X is estimated in log-linear form as ln Q ^ = 16.56727 - 2.85ln P - 0.05152ln M +

The empirical demand function for good X is estimated in log-linear form as

ln Q^{^}= 16.56727 - 2.85ln P - 0.05152ln M + 0.35ln P_Y, where Q^{^}is the estimated number of units of good X demanded, P is the price of X, M is income, and P_Yis the price of related good Y. (All parameter estimates are statistically significantly different from zero at the 5 percent level.)

At P = $22.50, M = 43,499, and P_Z= $12.50, the estimates for the income elasticity (E_M^{^}) is _____.

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