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6. Is there a direct or is there an inverse relationship between demand for lots ( QL ) and advertising expenditures (A)? What feature of
6. Is there a direct or is there an inverse relationship between demand for lots ( QL ) and advertising expenditures (A)? What feature of the function tells you? 7. How will demand for Paradise Lake's lots (QL) change in response to a $1000 increase in the price of competing lots (Pc) (an increase or decrease and also give the numerical value of it, too)? 8. How will demand for Paradise Lake's lots change in response to a $1000 increase in income (I) (an increase or decrease and also give the numerical value of it, too)? 9. What variable do I need to change in order to achieve a change in the quantity demanded ( QL ) of Paradise Lake lots? 10. Which should have the greatest influence on the demand for Paradise Lake lots: a $1000 increase in the price of competing lots (Pc) or or an increase of \$200000 in advertising expenditures? Explain
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