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The following is the estimated demand for widgets: Qw = 300 - 2Pw + 1.5Pz - 3Pf + 0.5Inc w=widgets, z=zebs, f=flurps, Inc=income Which of
The following is the estimated demand for "widgets":
Qw = 300 - 2Pw + 1.5Pz - 3Pf + 0.5Inc
w=widgets, z=zebs, f=flurps, Inc=income
Which of the following statements is correct?
Group of answer choices
- This demand function tells us flurps are normal goods.
- If consumer income were to increase the demand function would shift to the right on the graph.
- The sign in front of 2Pw should (-)
- Flurps are complementary goods to Widgets.
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