Question: Suppose that the sales function for a product L has been estimated as: Q L =7-1.6P L -.2P C +.8P S +.0005Y+.0004A Where, Q L

Suppose that the sales function for a product L has been estimated as:

QL=7-1.6PL-.2PC+.8PS+.0005Y+.0004A

Where, QL is the quantity of product L demanded, in thousand per month.

PL is the price of product L, which is currently $15

PC is the price of product C, which is currently $25;

PS is the price of product S, which is currently $20;

Y is the level of per capita income, which is currently $20,000; and

A is monthly advertising, which is currently $15,000.

Express the equation for the demand curve for L.

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