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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 b, we can use observed values for Q and P and then set -b(P/Q) equal to the:
A) income elasticity of demand. B) cross-price elasticity of demand. C) price elasticity of demand. D) price elasticity of supply. Title: Re: A simple linear demand function may be stated as Q = a - bP + cI where Q is quantity demanded, P ... Post by: Bart_arg on Oct 24, 2017 Content hidden
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