Analyze the demand function for Smooth Sailing sailboats given on page 83.Please read "What is a Symbol" locate in the folder with this assignment.

This function is:

Qs = 89830 -40P_S +20P_X +15P_Y +2I +.001A +10W

1.Characterize this function by circling all in the following list that are applicable:

univariate, bivariate, multivariate, linear, exponential, logarithmic, curvilinear, 1^st degree, 2^nd degree, 3^rd degree, additive, multiplicative, linearly homogeneous

2.What is the numerical value of the partial derivative of the function with respect the price of Company X's sailboats (be sure to also include the + or - sign.Note: I do not want the symbol for this partial derivative)?

3.Write the mathematical symbol representing the coefficient of the price (P_Y) of Company Y's motorboats.(the numerical value of this coefficient is +15, but the answer you give is to be the symbol representing this partial derivative).

4.Assuming there is a $1 increase in the price (P_Y) of Company Y's motorboats, what change in demand for Smooth Sailing's sailboats will result (give the numerical value, too)?

5.Are Y's motorboats a substitute for or complementary to Smooth Sailing sailboats?What feature of the function tells you?

6.Are X's sailboats a substitute for or complementary to Smooth Sailing sailboats?What feature of the function tells you?

7.Are Smooth Sailing sailboats a normal or an inferior good? What feature of the function tells you?

8.Assuming the price of Y's motorboats decreases by $100, what change in demand for Smooth Sailing's sailboats will result (give the numerical value, too)?

9.Assuming per capita income (I) decreases by $1000, what change in demand for Smooth Sailing's sailboats will result (give the numerical value of it, too)?

10.Assuming the price of X's sailboats (P_X) increases by $100, what change in demand for Smooth Sailing's sailboats will result (give the numerical value of it, too)?