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Q1 Suppose the demand for sunscreen X has been estimated to be ln(QI) : 5 1.71n(Px) + 3 ln(S)3 111(Ay), where .9 denotes the average
Q1 Suppose the demand for sunscreen X has been estimated to be ln(QI) : 5 1.71n(Px) + 3 ln(S)3 111(Ay), where .9 denotes the average hours of sunshine per day and Ag represents the level of advertising for good Y. a) What would be the impact on demand of a 5 percent increase in the daily,r amount of sunshine? b) What would be the impact of a 10 percent reduction in the amount of advertising toward good Y? c) What might be good Y in this example
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