How we can get 61300? 15. The demand for good X is estimated to be Q̟" = 10,000 - 4Px + 5Py + 2M + Ax where Pxis the price of X, Py is the price of good Y, M is income, and Ax is the amount of advertisingon X. Suppose the present price of good X is $50, Py = $100, M = $25,000, and Ax= 1,000units. What is the quantity demanded of good X?A. 61,500B. 61,300C. 61,300 – 4PxD. 61,500 – 4Px

Given information - QXd = 10,000 - 4Px + 5Py + 2M + Ax Present price of good X = $50 PY = $100 M =…

15. The demand for good X is estimated to be Q" = 10,000 – 4Px + 5Py + 2M + Ax where Px is the price of X, Py is the price of good Y, M is income, and Ay is the amount of advertising on X. Suppose the present price of good X is $50, Py = $100, M = $25,000, and Ax= 1,000 units. What is the quantity demanded of good X? A. 61,500 B. 61,300 C. 61,300 – 4Px D. 61,500 – 4Px

15. The demand for good X is estimated to be Q" = 10,000 – 4Px + 5Py + 2M + Ax where Px is the price of X, Py is the price of good Y, M is income, and Ay is the amount of advertising on X. Suppose the present price of good X is $50, Py = $100, M = $25,000, and Ax= 1,000 units. What is the quantity demanded of good X? A. 61,500 B. 61,300 C. 61,300 – 4Px D. 61,500 – 4Px

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 5P

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Similar questions

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