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28 Sep 2019
Suppose demand for inkjet printers is estimated to be QD = 1000 - 5p + 10pX - 2pZ + 0.1Y. If p = 80, pX = 50, pZ = 150, and Y = 20,000; answer the following:
- What is the price elasticity of demand?
- What is the cross-price elasticity concerning commodity X? Give an example of what commodity X might be.
- What is the cross-price elasticity concerning commodity Z? Give an example of what commodity Z might be.
- What is the income elasticity?
Suppose demand for inkjet printers is estimated to be QD = 1000 - 5p + 10pX - 2pZ + 0.1Y. If p = 80, pX = 50, pZ = 150, and Y = 20,000; answer the following:
- What is the price elasticity of demand?
- What is the cross-price elasticity concerning commodity X? Give an example of what commodity X might be.
- What is the cross-price elasticity concerning commodity Z? Give an example of what commodity Z might be.
- What is the income elasticity?
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ndbthai1011Lv2
2 Jan 2023
Nusrat FatimaLv10
28 Sep 2019
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