Question: Assuming that the given demand function Q d = 700 2P P R + 0.1M, represents the demand for Good-X where P is the price

Assuming that the given demand function Q^d = 700 2P P_R + 0.1M, represents the demand for Good-X where P is the price of Good-X, P^R is the price of related product, while M is average consumer income.

a.What happens to the demand for Good-X when the price of related product goes up? What are the Good-X and the related product?

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