Question: The generalized demand function for good X is given by: Q d = 200 - 8P X + 5P Y - 3P Z + 0.4M

The generalized demand function for good X is given by:

Qd = 200 - 8PX + 5PY - 3PZ + 0.4M + 10N

Where Qd = the overall demand for good X

PX= the price of X

PY = the price of related good Y

PZ = the price of related good Z

M = consumer per capita income

N = the number of consumers

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