MBA, Microeconomics

The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz
Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is the price of brand Z. Assume that Px =$2, I=$20000, Py=$4 and PZ=$4.
a) with respect to changes in per-capita income, what kind of good is brand X?
b)how are brand X and Y related?
c)how are brand X and Z related?
d)how are brand X and Y related?
e)what is the market demand for brand X?
Posted Date: 2/12/2013 9:22:47 AM | Location : United Kingdom







Related Discussions:- MBA, Assignment Help, Ask Question on MBA, Get Answer, Expert's Help, MBA Discussions

Write discussion on MBA
Your posts are moderated
Related Questions
Protection of infant firms: Infant industries are those firms, which are young. The absence of economies of scale to them makes their unit cost of production higher than older

How the inflation effect on the Import and Export of the country?  When general price level enhances in an economy, local currency is devalued. Economy has to spend more on imp

You should find two articles, of which one should report on changes that make farming more productive (more food per acre, hour or other unit of inputs), and another about changes

this is a project I need help answering the questions

RATIONAL EXPECTATIONS AND ECONOMIC THEORY  : Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic age

Price System: Demand is the quantity of a commodity that consumers are willing and are able to buy at a given price at a given time period when all other things remain the sam

1) A) Suppose that several months of data showed the CPI increasing at a 4.5% annual rate due largely to increases in the price of energy and food related commodities following sev

1. Go to the website for MarginalRevolution. Find">http://www.marginalrevolution.com Find two posts that related to microeconomic topics that we are covering and write about on

What are the factors that determine the volume of production?