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Use the Following General Linear Demand Relation Qd=6809P+0.006M4PRQ _ { d } = 680 - 9 P + 0.006 M - 4 P _ { R }

Question 48

Multiple Choice

Use the following general linear demand relation: Qd=6809P+0.006M4PRQ _ { d } = 680 - 9 P + 0.006 M - 4 P _ { R } where M is income and PRP _ { R } is the price of a related good,R.If M = $15,000 and PRP _ { R} = $20,the demand function is


A) P=6909QdP = 690 - 9 Q _ { d } .
B) Qd=6909PQ _ { d } = 690 - 9 P .
C) Qd=6809PQ _ { d } = 680 - 9 P .
D) P=6809QdP = 680 - 9 Q _ { d } .
E) Qd=80019PQ _ { d } = 800 - 19 P .

Correct Answer:

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