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The estimated demand function for pizza is QD = 10 - 2P + 1.5Pb + 1Y, where QD is the quantity demanded of pizzas, P
The estimated demand function for pizza is QD = 10 - 2P + 1.5Pb + 1Y, where QD is the quantity demanded of pizzas, P is the price of pizzas, Pb is the price of burritos, and Y is consumer income. The coefficient on Pb reflects that pizzas and burritos are Group of answer choices substitutes. inferior goods. normal goods. complements
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
