Question: It is known that the demand function for mountain bikes is QDx=20 -0.22Px +0.16Py +421 +26Po Where: QDX = Demand Quantity of mountain bikes

It is known that the demand function for mountain bikes is QDx=20

It is known that the demand function for mountain bikes is QDx=20 -0.22Px +0.16Py +421 +26Po Where: QDX = Demand Quantity of mountain bikes (units) Px = Pacific Mountain Bike Price (million rupiahs) Py = Polygon Mountain Bike Price (million rupiahs) I = Consumer Income (ten million rupiahs) Po = Total Population (ten million people) Requested: a. What is the meaning of the price elasticity of Pacific mountain bikes? b. What does polygon mountain bike price mean? c. What is the meaning of consumer income elasticity of demand for Pacific mountain bikes? d. What does population elasticity mean?

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