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I know two questions is the max for each thread but this on equestion is all connected

I know two questions is the max for each thread but this on equestion is all connected. If you can help me any, please do.
 
Question 1 0.25 points Save
The generalized demand function for good A is:

        Qd = 600 -4PA - 0.03M - 12PB + 15F + 6Pe +1.5N

where Qd = quantity demanded of good A each month,PA = price of good A, M = average household income,PB = price of related good B, F = consumer taste index ranging in value from 0 to 10 (the highest rating), Pe = price consumers expect to pay next month for good A, and N = numberof buyers in the market for good A.

The intercept parameter indicates that  units of good A canbe sold each month if PA, M, PB, F,Pe and N are all simultaneously equal to  .
Question 1 answers
Question 2 text   Question 2 0.25 points Save
Using the information inQuestion 1:

The value of the slope parameter for the price of good A is . The sign is (Correct/Incorrect) because of the Law of .
Question 2 answers
Question 3 text   Question 3 0.25 points Save
Using the information inQuestion 1:

The slope parameter for income is  . Good A is(Normal/Inferior). A $1,000 increase in M will  (Increase/Decrease) Qd by  units per month.
Question 3 answers
Question 4 text   Question 4 0.25 points Save
Using the information inQuestion 1:

Goods A and B are (Substitutes/Complements) because the slope parameter of PB is (Positive/Negative).   A $1 increase in the price of good B, all other factors constant, will cause the quantity demanded of good A to  (Increase/Decrease)by  units permonth.
Question 4 answers
Question 5 text   Question 5 0.25 points Save
Question 5 answers
 
 

Apr 26 2018 View more View Less

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