Compute the quantity of good x demanded

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The general linear demand for good X is estimated to be Q = 1,000,000 - 1,000P - 2M - 200PR, where P is the price of good X, M is average income of consumers who buy good X, and PR is the price of related good R. The values of P, M, and PR are expected to be $500, $50,000, and $100, respectively. Compute the quantity of good X demanded for the given values of P, M, and PR

Reference no: EM132843024

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