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Assume That the Following Is the Result of a Demand QX=100020PX+4 mame +10PY15PZQ _ { X } = 1000 - 20 P _ { X } + 4 \text { mame } + 10 P _ { Y } - 15 P _ { Z }

Question 58

Multiple Choice

Assume that the following is the result of a demand estimation:
QX=100020PX+4 mame +10PY15PZQ _ { X } = 1000 - 20 P _ { X } + 4 \text { mame } + 10 P _ { Y } - 15 P _ { Z } Assuming that all coefficients are statistically significant and the model does not suffer from any estimation issues, which of the following statements is wrong:


A) X is a normal good
B) X and Y are competing products
C) X and Z are competing products
D) A rise in the price of X reduces the quantity of X demanded

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