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nakungth nakungth
wrote...
Posts: 1175
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6 years ago
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)
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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wrote...
6 years ago
A
nakungth Author
wrote...
5 years ago
Thank you!
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