# Help for Economics Question- Calculating Elasticity From Regression Equations

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BONUS QUESTION – 5 extra credits (no negative marks, only extra points)The following regression is the demand for organic vegetables which was estimated from nationwide data provided by a UK retailer:Qx = 737,644 – 750,111 Px 703,029 Py where: Qx = quantity of organic vegetables sold (number of products), with mean value Q ̅_x = 591,432; Px = average price of organic vegetables (£) with mean value, P ̅_x= £ 1.10; and Py = average price of non-organic vegetables (£) with mean value, P ̅_y = 0.96.Calculate the values of the two price elasticities. (2 extra points for each elasticity). Is the demand for organic vegetables price-elastic or price-inelastic? (1 extra point)
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5 months ago
#2
I assume this forms part of your university assessment. It’s not cool to get members of tsr to get you to cheat. My assumption is because your account was made today.
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