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 the price of the good rises by $10, all else constant, the quantity demanded will ________ by ________ units.
A) increase; 16 units
B) decrease; 160 units
C) decrease; 1.5 units
D) increase; 150 units
Correct Answer:

Verified
Correct Answer:
Verified
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