日誌
Assume that we have a demand curve of the form.log(Q)=a-b×log(P)+c×log(I), whe .
|
【題目】 Assume that we have a demand curve of the form.log(Q)=a-b×log(P)+c×log(I), where Q=quantity, P=price, I=income, and a, b, and c are positive constants. The income and price elasticities for the demand curve represented above are always
constant. <------答案
equal to zero.
equal(i.e., income elasticity always equals price elasticity).
equal to one.
全部作者的其他最新日誌
- • Levi’s jeans sell for $100 a pair. Suppose at the profit maximizing quantity, L
- • 2022-02-18
- • A simple linear demand function may be stated as Q= a-bP+cI where Q is quantity
- • Crude oil can be refined into home heating oil or gasoline. If very cold weather
- • If resources are used efficiently, then _____.
- • 2022-02-12