Question
Future Shop has hired an economist to develop a model of Glide, a new computer tablet that has just come out on the market. The
Future Shop has hired an economist to develop a model of "Glide," a new computer tablet that has just come out on the market. The model is shown below: Sales of Glide (Q) = { Price of Glide tablets (Pg), Price of Touch tablets (Pt), a similar brand, Consumer Income (Y), Population (POP) } Questions: (a) State which variables are dependent and which ones are independent (b) Come up with a theory that relates Y to Q (c) If you were to draw a graph of your theory in part (b), which variable would go on the X-axis and which would go on the y-axis? What would the graph look like?
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