The estimated demand for a good is
= 4800 - 16P - 0.65M - 1.5PRwhere Q is the quantity demanded of the good, P is the price of the good, M is income, and PR is the price of related good R. If income decreases by $2,000, all else constant, quantity demanded will ________ by ________ units.
A. increase; 1.30 units
B. increase; 1,300 units
C. decrease; 65 units
D. decrease; 6.5 units
Answer: B
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Refer to Figure 5-6. What does D2 represent?
A) the demand curve reflecting marginal social benefits B) the positive externalities curve C) the demand curve reflecting marginal private benefits D) the social welfare curve
International trade equalizes the opportunity cost of producing any good around the world
a. True b. False
Figure 10.2 A Macroeconomic Model with Government Spending and Taxes
What will be an ideal response?
When tax code changes increase investment incentives, the _____ for loanable funds curve shifts to the _____. This results in a(n) _____ in the interest rate and a(n) _____ in investment
Fill in the blank(s) with correct word