. Suppose the demand function for cable TV service is given by Q CTV = 15 - 0.25 x P CTV + 0.0005 x M + 0.3 × P STV, Q CTV is the quantity of cable TV demanded (thousands of households), P CTV is the price of cable TV, M is income and P STV is the price of satellite TV service. Suppose consumers' income is $50,000 and the price of satellite TV service is $90. At what price would the demand for cable TV services be equal to 55,000 households? A) there is not enough information B) $67 C) $48 D) $12

. Suppose the demand function for cable TV service is given by Q CTV = 15 - 0.25 x P CTV + 0.0005 x M + 0.3 × P STV, Q CTV is the quantity of cable TV demanded (thousands of households), P CTV is the price of cable TV, M is income and P STV is the price of satellite TV service. Suppose consumers' income is $50,000 and the price of satellite TV service is $90. At what price would the demand for cable TV services be equal to 55,000 households? A) there is not enough information B) $67 C) $48 D) $12

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter6: Demand Relationships Among Goods

Section: Chapter Questions

Problem 6.4P

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