Answer to Question #288014 in Other for cedes

Question

The demand for good X is given by

Q_X^d = 6,000 − (1/2)P_X − P_Y + 9P_Z + (1/10)M

Research shows that the prices of related goods are given by P_y = $6,500 and P_z = $100, while the average income of individuals consuming this product is M = $70,000.

Answer 1

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