Question
The demand curve is given by: Qo = 500 - SPx+ 0.51 + lOPY - 2Pz where: Qo= quantity demanded of good X, Px= Price
The demand curve is given by:
Qo = 500 - SPx+ 0.51 + lOPY - 2Pz
where: Qo= quantity demanded of good X, Px= Price of good X, !=consumer income in thousands, Py= price of good Y, Pz=price of good Z
What is the equation of the demand curve if consumer incomes are $30,000, the price of good Y is $10, and the price of good Z is $20?
OD = 500- 5px + 0.5(30,000) + 100 - 40
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Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds
7th Edition
73527122, 978-0073527123
