Analyze the demand function for Cuisine Tech Inc.'s (CTI) deluxe microwave ovens given on page 170. Please also read "What is a Symbol" located in the folder with this assignment.

This function is:

Q_H= 60000 -40P_H+ 20P_C+ 5H + .1I_H+ .0001A_H

1.Characterize this function by circlingallin the following listthat are applicable:

univariate, bivariate, multivariate, linear, exponential, logarithmic, curvilinear, 1^stdegree, 2^nddegree, 3^rddegree, additive, multiplicative, linearly homogeneous

2.What is thenumerical valueof the partial derivative of the function with respect to the price of a competing brand (Pc) (be sure to also include the + or - sign?.Note: I do not want the symbol for this partial derivative)?

3.Write the mathematicalsymbolrepresenting the coefficient of Advertising expenditures (A_H)?(thenumericalvalueof this coefficient is +0.0001, but the answer you give is to be thesymbolrepresenting this partial derivative).

4.Assuming there is a $200increasein the price of Cuisine Tech's ovens (P_H), what will be the direction and the amount of the change in the quantity demanded (Q_H) (an increase or decrease and also give the numerical value of it, too)?

5. Are CTI ovens a normal or an inferior good? What feature of the function tells you?

6.Assuming the average annual family income of CTI customers (I_H)increasesby $1000, how will the demand for CTI ovens change (an increase or decrease and also give the numerical value of it, too)?

7.Assuming your advertising expenditures (A_H) areincreasedby $300000, how will the demand for CTI ovens change (an increase or decrease and also give the numerical value of it, too)?

8.If the number of two income households (H) doubles from 5 million to 10 million households. What change in demand for CTI ovens will there be (an increase or decrease and also give the direction and numerical value of the change)?

9.What one variable in the CTI demand functioncannotcause a change in demand because a change in it will cause a change in the quantity demanded of ovens?

10. Assume there is a $200 increase in the price of the competing brand oven (Pc).What change in the demand for CTI ovens will result (an increase or decrease and give the numerical value of it, too)?