Description of this paper

The demand function for gadgets is given by the following formula

Description

solution


Question

The demand function for gadgets is given by the following formula;Q = 1,000 -10Y - 2 P + 4A;where Q is quantity, Y is income, P is price, and A is advertising.;Currently, Y = 20, P = 30, and A is 15;What is the income elasticity of demand?

 

Paper#22650 | Written in 18-Jul-2015

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