Question
the demand curveis linear :Q=100-.3P+1.5Y+.2A p: price Y income A:advertising At P=3$.Y= 1500$and A= 3000$ what is the price elasticity of demand ? Elastic or
the demand curveis linear :Q=100-.3P+1.5Y+.2A
p: price
Y income
A:advertising
At P=3$.Y= 1500$and A= 3000$
what is the price elasticity of demand ? Elastic or in elastic ?
what is the income elasticity of demand ? its normal or inferior good? necessary or luxury good ?
what is the advertising elasticity of demand ?
find the managerial effect of P on Q ? marginal effect of Y on Q?
if you have this demand function for your firm , will you increase or decrease the price ?
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International Economics
Authors: Dominick Salvatore
11th edition
978-1118177938, 1118177932, 1119915732, 978-1118476017, 1118476018, 978-1119915737
