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R.C. Willey's economists report that the quantity demanded for their microfiber sofas is given by the equation below. P_{X} their own price, C and D
R.C. Willey's economists report that the quantity demanded for their microfiber sofas is given by the equation below. P_{X} their own price, C and D are other expensive good sold in the store with prices P_{C} and P_{D} M is income, and A is advertising expense. Q_{X} ^ D = 6666.4 - 6.5P_{X} - 8.6P_{C} + 1.7P_{D} + 0.01M + 0.03A How many microfiber sofas will they sell when P_{X} = 383, P_{C} = 443; P_{D} = 780; M = 47200 and A = 2230 ? On the following Elasticity calculations , give me three decimal places. What is the own price elasticity of demand at these input values ? What is the advertising elasticity of demand at these input values ? What is the income elasticity of demand at these input values ? What is the cross price elasticity of demand between X and C elasticity of demand at these input values ? What is the cross price elasticity of demand between X and D elasticity of demand at these input values
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