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Extended demand function of good

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Reference no: EM131954026

The extended demand function of good X is:

QdX=1200 - 10Px + 20Py + 0.2M

Where QdX = quantity demanded of good X

PX = Price of good X

M = Average consumer income

Py = Price of related good Y (related in consumption of good X)

a) If M = 20000, Py = 10, and Px = 400 then QdX =

If M = 20000, Py = 10, and Px = 420 then QdX =

Reference no: EM131954026

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