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True or False? (No explanation needed) The following equation estimates the demand for Doritos nacho tortilla chips: Q Doritos = 10 - 0.5P Doritos +

True or False? (No explanation needed)

The following equation estimates the demand for Doritos nacho tortilla chips:

Q_Doritos= 10 - 0.5P_Doritos+ 1.2P_Lays+ 2Income

where P_Doritosis the price of a bag of Doritos, P_Laysis the price of a bag of Lays potato chips, and "Income" is consumers' yearly income (in thousands).

Based on this equation Doritos are an inferior good.

True

False

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