Market Demand., Macroeconomics

Assignment Help:
Ask question #The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz
Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is the price of brand Z. Assume that Px =$2, I=$20000, Py=$4 and PZ=$4.
a) with respect to changes in per-capita income, what kind of good is brand X?
b)how are brand X and Y related?
c)how are brand X and Z related?
d)how are brand X and Y related?
e)what is the market demand for brand X?

Related Discussions:- Market Demand.

Distinguish between static and dynamic gains from trade, Question 1: Cr...

Question 1: Critically analyse the costs of inflation. Which of these items is likely to have encouraged many governments in their adoption of inflation as public enemy number

Purchasing Power Parity, Assume that a Mazda 2 sells for 16,000 Australian ...

Assume that a Mazda 2 sells for 16,000 Australian dollars in Australia and 10,000 Canadian dollars in Canada If purchasing-power parity holds, what is the Canadian dollar/Australia

Find the quantities that each firm is selling, Two firms, producing an iden...

Two firms, producing an identical good, engage in price competition. The cost functions are c1 (y1) = 1:17y1 and c2 (y2) = 1:19y2, correspondingly. The demand function is D(p) = 80

Growth of trade, Growth of Trade: As far as the growth of exports and ...

Growth of Trade: As far as the growth of exports and imports are concerned,  it is evident  from Table 17.2  that India has performed better than the world growth  rates  in

Theory of aggregate demand, unplandned change in inventory are coutned as i...

unplandned change in inventory are coutned as investment spending by firms

What is frictional unemployment, What is Frictional unemployment Ind...

What is Frictional unemployment Individuals who are temporarily unemployed when transiting between jobs or just entering labour market. This kind is typically short in durat

Commercial banks: balance sheet, Commercial Banks: Balance Sheet The ac...

Commercial Banks: Balance Sheet The accompaning table gives the balance sheet of a commercial bank in a simplified format. The balance sheet contains particulars of a Bank's cu

What are UN millennium development goals, What are UN Millennium Developmen...

What are UN Millennium Development Goals? The UN Millennium Development Goals (MDGs): These are a set of objectives shared through the IMF, the OECD and the World Bank (WB)

What are the changes in the exchange rate, What are the Changes in the exch...

What are the Changes in the exchange rate Assume that United States is our home country and that current euro exchange rate in direct notation is SD= 1.5 (euro/USD). In indirec

Economic growth cyclic fluctuations, Economic Growth Cyclic Fluctuations ...

Economic Growth Cyclic Fluctuations At this stage, it is useful for us to understand the difference between economic growth and cyclical fluctuations. Economic Growth Econo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd