Q_{s=quantity purchased}

P_{s= the price of Smooth Sailing sailboats}

P_{x= the price of company X's sailboat}

P_{y= the price of company's Y's motorboat}

_{I= per capita income in dollars}

_{A= dollars spent on advertising}

_{W=number of favorable days of weather in the southern region of the United States}

This function is: Qs = 89830 -40Ps +20Px +15Py +21 +.001A +10W 1. Characterize this function by circling all in the following list that are applicable: univariate, bivariate, multivariate, linear, exponential, logarithmic, curvilinear, 1" degree, 2"d degree, 3rd 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 (Py) of Company Y's motorboats. (the numerical value of this coefficient is +13, but the answer you give is to be the symbol representing this partial derivative). 4. Assuming there is a $1 increase in the price (PY) 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 (Px) increases by $100, what change in demand for Smooth Sailing's sailboats will result ( give the numerical value of it, too)