|
Title: A simple linear demand function may be stated as Q = a - bP + cI where Q is quantity demanded, P is ... Post by: nakungth on Oct 24, 2017 A simple linear demand function may be stated as Q = a - bP + cI where Q is quantity demanded, P is the product price, and I is consumer income. To compute an appropriate value for c, we can use observed values for Q and I and then set the estimated income elasticity of demand equal to:
A) c(I/Q) B) c(Q/I) C) -b(I/Q) D) Q/(cI) Title: Re: A simple linear demand function may be stated as Q = a - bP + cI where Q is quantity demanded, P ... Post by: LBCea on Oct 24, 2017 A
Title: Re: A simple linear demand function may be stated as Q = a - bP + cI where Q is quantity demanded, P is ... Post by: nakungth on Aug 15, 2018 Thank you!
|