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The estimated demand for a good is Q = 4,800 16 P 0.65 M 1.5 P R where Q is the quantity demanded of the

The estimated demand for a good is

Q = 4,800 16 P 0.65 M 1.5 P_R

where Q is the quantity demanded of the good, P is the price of the good, M is income, and P_R is the price of related good R. The coefficient on P

a. both "should not be greater than one (in absolute value)" and "should have the same sign as the coefficient on P_R".

b. violates the law of demand.

c. should have the same sign as the coefficient on P_R.

d. should not be greater than one (in absolute value).

e. is negative as dictated by the law of demand.

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