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nakungth nakungth
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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 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.
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Microeconomics

Microeconomics


Edition: 8th
Author:
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Bart_argBart_arg
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6 years ago
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nakungth Author
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6 years ago
Thank you, thank you, thank you!
DAGINC
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Yesterday
Correct Slight Smile TY
Mkersey12
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2 hours ago
Helped a lot
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