Consider the following demand function for airline tickets (quantities are in thousands): Q = 10-0.1px + 0.4py +0.25p₂ +0.005Y, where Px price of an airline ticket Q = quantity demanded Py price of a bus ticket P₂ price of gasoline Y = consumer income According to the above equation, airline tickets and bus tickets are goods.

Advanced Engineering Mathematics
10th Edition
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Chapter2: Second-order Linear Odes
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Consider the following demand function for airline tickets (quantities are in thousands):
Q = 10-0.1px + 0.4py +0.25p₂ +0.005Y, where
Py = price of a bus ticket
Pz price of gasoline
Y = consumer income
Px = price of an airline ticket
Q = quantity demanded
According to the above equation, airline tickets and bus tickets are
goods.
Transcribed Image Text:Consider the following demand function for airline tickets (quantities are in thousands): Q = 10-0.1px + 0.4py +0.25p₂ +0.005Y, where Py = price of a bus ticket Pz price of gasoline Y = consumer income Px = price of an airline ticket Q = quantity demanded According to the above equation, airline tickets and bus tickets are goods.
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