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Home / Questions / E demand function for your brand, X, of hotdogs is estimated as Qd x = 1,200 - 10 Px - 10 ...

E demand function for your brand, X, of hotdogs is estimated as Qd x = 1,200 - 10 Px - 10 Py + 50 PZ - 0.005 I The price of X is $ 5, Y is $ 10, Z is $ 3 and incomes are $ 40,000. 1a)What are your sa

E demand function for your brand, X, of hotdogs is estimated as Qd x = 1,200 - 10 Px - 10 Py + 50 PZ - 0.005 I

The price of X is $ 5, Y is $ 10, Z is $ 3 and incomes are $ 40,000. 1a)What are your sales? 1b) What is the elasticity of demand for X? 1c) What is the cross elasticity between X and Z? 1d) Are X and Z substitutes or complements? 1e) What is the income elasticity for X? 1f) If incomes increased by $ 10,000, what would be the increase in sales of X? all very small questions, big like for quick answer

 

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Apr 12 2021 View more View Less

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