Please answer the questions to the demand & supply functions below: QDX = – 0.50PX + 0.20PY + 0.25A, QSX = – 30 + 0.25PX – 0.25PR + 3.0TK, where goods Y & R are related goods to X through supply or demand, A is advertising related to good X, and TK is a level of technology used in producing good X? Given PY = $25, A = $100, PR = $60, & TK = 15; find QE & PE? At equilibrium, find: EDX, EXY, EA, EXR, & ETK (round to 2 decimals)? If PY increases 10% & A increases 20%, what is the new % change in QDX? What are the relations of goods Y & R to good X (be precise w/ wording)? 3 and 4 are the ones i need help on, if you could solve all of them however id appreciate it.

Please answer the questions to the demand & supply functions below: QDX = – 0.50PX + 0.20PY + 0.25A, QSX = – 30 + 0.25PX – 0.25PR + 3.0TK, where goods Y & R are related goods to X through supply or demand, A is advertising related to good X, and TK is a level of technology used in producing good X? Given PY = $25, A = $100, PR = $60, & TK = 15; find QE & PE? At equilibrium, find: EDX, EXY, EA, EXR, & ETK (round to 2 decimals)? If PY increases 10% & A increases 20%, what is the new % change in QDX? What are the relations of goods Y & R to good X (be precise w/ wording)? 3 and 4 are the ones i need help on, if you could solve all of them however id appreciate it.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter2: Fundamental Economic Concepts

Section: Chapter Questions

Problem 1E: For each of the determinants of demand in Equation 2.1, identify an example illustrating the effect...

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