Using regression analysis on data from a field experiment, the demand curve for a product is estimated to be QXd = 1,200 − 3PX − 0.1PZ where Pz = $300. a. What is the own price elasticity of demand when Px = $140? Is demand elastic or inelastic at this price?  b. What is the own price elasticity of demand when Px = $240? Is demand elastic or inelastic at this price? c. What is the cross-price elasticity of demand between good X and good Z when Px = $140?

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