What other complements and substitute can be added to the below demand function and explain why?lnQLG= f (lnPLG, lnPMIT, lnPELC, lnADV, lnTS)where,lnQLG shows the natural log of quantity demanded of LG, lnPLG is the natural log of price of LG, lnPMIT is the price of Mitsubishi, lnPELC is the price of household electricityLnADV is the log of advertisementlnTS shows the total sale of firm

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter3: Demand Analysis
Section: Chapter Questions
Problem 6E
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What other complements and substitute can be added to the below demand function and explain why?

lnQLG= f (lnPLG, lnPMIT, lnPELC, lnADV, lnTS)
where,
lnQLG shows the natural log of quantity demanded of LG,
lnPLG is the natural log of price of LG, lnPMIT is the price of Mitsubishi, lnPELC is the price of household electricity
LnADV is the log of advertisement
lnTS shows the total sale of firm

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