Question: 1.Suppose that the generalized demand function for good X is Q d =- 30 P X + 0.05 M + 2 Pr + 4 T

1.Suppose that the generalized demand function for good X is

Qd =- 30 PX + 0.05 M + 2 Pr + 4 T

PX: The price of the product X

M: Per capita income

Pr: Prices of related goods

T: Taste.

Given:

M = 5000

Pr = 25

T = 30

Find the demand function for good X

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