Given a demand function Qd=10+ 0.25Yd-0.9P, where Qd: quantity demanded, Yd: disposable income (ie. after-tax income), Yd=Y-T,
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Question:
Assume all other things being held constant, based on this demand function, does it make sense that Qd and Yd have a positive relationship? Does it make sense that Qd and P have a negative relationship?
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