Multiple Choice
Refer to the following:
The estimated demand for a good is
where Q is the quantity demanded of the good, P is the price of the good, M is income, and
is the price of related good R.
-If income decreases by $2,000, all else constant, quantity demanded will ________ by _________ units.
A) increase; 1.30 units
B) decrease; 6.5 units
C) increase; 1,300 units
D) decrease; 65 units
Correct Answer:

Verified
Correct Answer:
Verified
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