Multiple Choice
A firm's demand equation is given by: Q = 60 - 60P + 2Y,where Q is quantity,P is price,and Y is income.If price increases by $2 and income increases by $80,then quantity demanded will:
A) increase by 160 units.
B) increase by 100 units.
C) decrease by 120 units.
D) decrease by 40 units.
E) decrease by 60 units.
Correct Answer:
Verified
Correct Answer:
Verified
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