Question: 17. Given a market demand function for Twiggles: = 2400 + 8 + 800 where Q = annual quantity demanded, P = price in dollars,

17. Given a market demand function for Twiggles: = 2400 + 8 + 800 where Q = annual quantity demanded, P = price in dollars, I = per capita disposable income, and = the price of a related good G. At the current time, P = $40, I = $25,000 and = $50. The value of the price elasticity of demand for Twiggles: _______________

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=+p. A1). That same day, the interest rate on 30-year U.S. government bonds rose from 6.46

=+ d. The war makes U.S. consumers uncertain about the future, and the consumers save more in response.

=+ a. The U.S. government, fearing it may need to enter the war, increases its purchases of military equipment.