Multiple Choice
Use the following general linear demand relation: 
where P is the price of good X,M is income,and 
is the price of a related good,R.Income is $80,000,and the price of the related good is $40.Also let consumers' tastes change so that consumers now demand 100 more units at each price.When the price of the good is $50,how many units of the good are demanded?
A) 70
B) 200
C) 220
D) 100
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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