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14 Aug 2018
Suppose the demand for X is given by Qxd = 100 + 2PX + 4PY + 10M + 2A, where PX represents the price of good X, PY is the price of good Y, M is income, and A is the amount of advertising on good X. Good X is:
a. an inferior good.
b. a normal good.
c. a Giffen good.
d. a complement.
Suppose the demand for X is given by Qxd = 100 + 2PX + 4PY + 10M + 2A, where PX represents the price of good X, PY is the price of good Y, M is income, and A is the amount of advertising on good X. Good X is:
a. an inferior good.
b. a normal good.
c. a Giffen good.
d. a complement.
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Sixta KovacekLv2
16 Aug 2018
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