demand function | substitutes | complements | normal goods | inferior good| inverse demand function
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3 سال پیش
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The demand for good X
The demand for good X is given by: Qdx= 1,200-1/2Px+1/4Py-8Pz+1/10M Research shows that the prices of related goods are give by Py=$5,900 and Pz=$90, while the average income of individuals consuming this product is M=$55,000. a. Indicate whether goods Y and Z are substitutes or complements for good X. b. Is X an inferior or a normal good? c. How many units of good X will be purchased when Px=$4,910? d. Determine the demand function and inverse demand function for good X.
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Mathematical Economics Differentiatio...
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Micro Economics
#Integration in ECONOMICS
Integration and Economics
Algebra in Economics
Algebra in Economics
#MatrixAlgebra in Economics
Algebra in Economics
#GRAPHING_IN_ECONOMICS
Graphing In Economics
#Choice under uncertainty
CHOICE UNDER UNCERTAINTY
#GAMETHEORY
GAME THEORY IN ECONOMICS
#ComparativeStaticsInEconomics
Comparative Statics Analysis in Econo...
#GATEECONOMICS
GATE ECONOMICS PAPER
#INPUT_OUTPUT_MODEL
INPUT OUTPUT ANALYSIS
#IS-LM_MODEL
IS–LM Model
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#ImportantQuestionsInEconomics
#MAEntranceEconomics
#QuantitativeEconomics
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