After a careful statistical analysis, the Chidester Company concludes the demand function for its product is
Q = 500  3P + 2Pr + 0.1I
where Q is the quantity demanded of its product, P is the price of its product, Pr is the price of its rival’s product, and I is per capita disposable income (in dollars). At present, P = $10, Pr = $20, and I = $6,000.
What is the current output level Q?
a. 
1030 

b. 
1100 

c. 
610 

d. 
1110 
For the aforementioned question, the corr...
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