每日答題： A simple linear demand function may be stated as Q= a-bP+cI where Q is quantity demanded , P is the product price, and I is consumer income. To compute an appropriate value for c, we can use observed values for Q and I and then set the estimated income elasticity of demand equal to. 答案： c(I／Q)
【題目】 A simple linear demand function may be stated as Q= a-bP+cI where Q is quantity demanded , P is the product price, and I is consumer income. To compute an appropriate value for c, we can use observed values for Q and I and then set the estimated income elasticity of demand equal to. Q／(cI) c(I／Q) -b(I／Q) c(Q／I)
【題目】 The owner of a local hot dog stand has estimated that if he lowers the price of hot dogs from $2.00 to $1.50, he will increase sales from 400 to 500 hot dogs per day. Using the midpoint formula, the demand for hot dogs is unit elastic. inelastic. perfectly elastic. elastic.
【題目】 A simple linear demand function may be stated as Q= a-bP+cI where Q is quantity demanded , P is the product price, and I is consumer income. To compute an appropriate value for c, we can use observed values for Q and I and then set the estimated income elasticity of demand equal to. -b(I／Q) c(Q／I) c(I／Q) ---答案 Q／(cI)
標籤: estimated