Suppose the demand function is Q_x^d = 100 - 5 P_x + 2 P_y - M. If P_x = $4, P_y = $2, and M = $50 , what is the cross-price elasticity of good x with respect to the price of good y?
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Suppose the demand function is Q_x^d = 100 - 5 P_x + 2 P_y - M. If P_x = $4, P_y = $2, and M = $50 , what is the cross-price elasticity of good x with respect to the price of good y?
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