Suppose demand for inkjet printers is estimated to be QX = 1000 – 5PX + 10PY – 2PZ + 0.1M.

Suppose demand for inkjet printers is estimated to be QX = 1000 – 5PX + 10PY – 2PZ + 0.1M. If own price (PX) = 80, related prices, PY = 50, PZ = 150, and income, M = 20,000; answer the following: A. Calculate own price elasticity of demand and interpret your result B. Calculate cross price elasticity of demand between X and Y and interpret your result C. Calculate cross price elasticity of demand between X and Z and interpret your result D. Calculate Income elasticity of demand and interpret your result


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