Solved

Use the Following General Linear Demand Function Below Qd=a+bP+cM+dPRQ _ { d } = a + b P + c M + d P _ { R }

Question 9

Multiple Choice

Use the following general linear demand function below: Qd=a+bP+cM+dPRQ _ { d } = a + b P + c M + d P _ { R } where Qd = quantity demanded,P = the price of the good,M = income, PRP _ { R} = the price of a good related in consumption.If c = 15 and d = 20,the good is


A) a normal good.
B) an inferior good.
C) a substitute for good R.
D) a complement with good R.
E) both a and c

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions