R.C. Willey's economists report that the quantity demanded for their microfiber sofas is given by the...

 

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R.C. Willey's economists report that the quantity demanded for their microfiber sofas is given by the equation below. Px is their own price, C and D are other expensive good sold in the store with prices Pc and PD, M is income, and A is advertising expense. QX = 1007.3 4.7Px 3.6Pc+ 1.7PD + 0.048M + 0.32A. How many microfiber sofas will they sell when Px = 533, Pc = 500, PD = 650, M = 36200, and A = 1910? If they do not change any other variables how many more microfiber sofas will they sell if they increase their advertising, A, by $11? If they do not change any other variables, how many more microfiber sofas will they sell if they decrease Px by $92? Write the inverse demand function for good X when Pc = 500, PD = 650, M = 36200, and A = 1910. This will be a function of Q P(Q) = R.C. Willey's economists report that the quantity demanded for their microfiber sofas is given by the equation below. Px is their own price, C and D are other expensive good sold in the store with prices Pc and PD, M is income, and A is advertising expense. QX = 1007.3 4.7Px 3.6Pc+ 1.7PD + 0.048M + 0.32A. How many microfiber sofas will they sell when Px = 533, Pc = 500, PD = 650, M = 36200, and A = 1910? If they do not change any other variables how many more microfiber sofas will they sell if they increase their advertising, A, by $11? If they do not change any other variables, how many more microfiber sofas will they sell if they decrease Px by $92? Write the inverse demand function for good X when Pc = 500, PD = 650, M = 36200, and A = 1910. This will be a function of Q P(Q) =

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