Given the regression estimate of the demand equation of where Y is income, what is the change
Question:
Given the regression estimate of the demand equation of
where Y is income, what is the change in demand if price rises by $1, holding income constant? What is the percentage change in demand if price rises by $1 from an initial price of P x = $200 given Y = 10,000? What is the effect on demand of a $1 increase in income, holding price constant?
Transcribed Image Text:
= Q 1,000 3.3P + 0.001Y x
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
The regression estimate of the demand equation is given as Qx 1000 33Px 0001Y where Qx Quantity dema...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
The Economics Of Health And Health Care
ISBN: 9781138208049
8th Edition
Authors: Sherman Folland, Allen C. Goodman, Miron Stano
Question Posted:
Students also viewed these Business questions
-
PoolVac, Inc. manufactures and sells a single product called the ?Sting Ray,? which is a patent-protected automatic cleaning device for swimming pools. PoolVac?s Sting Ray faces its closest...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
Requirement 1. Journalize the partners' initial contributions. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing the...
-
Updrafts of air are familiar to all pilots and are used to keep non-motorized gliders aloft. What causes these currents?
-
Water flows through the pipe contraction shown at a rate of 1 ft 3 /s. Calculate the differential manometer reading in inches of mercury, assuming no energy loss in the flow. Be sure to give the...
-
Select a publicly traded company for analysis or use a company assigned by your instructor. Using the firms most recent Form 10-K report (accessed through the SEC EDGAR database or from the companys...
-
Multiple choice questions 1. Trevor is a 50-percent partner in the Dalmatian Partnership. His basis in his partnership interest is $30,000 at the end of 2014. The partnership gives Trevor a cash...
-
An analyst has calculated the CVA for a 4-year 6% $100 annual coupon paying bond to be 4.256. If the risk-free rate was 2%, what would be the fair value of the risky bond? Give your answer correct to...
-
A business which prepares its financial statements annually to 31 December suffered bad debts which were written-off: The business had a balance of 400 on the Allowance for Doubtful Debts Account on...
-
A A business, which started trading on 1 January 2010, adjusted its allowance for doubtful debt at the end of each year on a percentage basis, but each year the percentage rate is adjusted in...
-
While Lisa was a student at the University of Ottawa, she borrowed $12,000 in student loans a loan at an annual interest rate of 8%. If Lisa repays $1,600 per year, how long, to the nearest year,...
-
Laurel used her RRSP account to help finance her down payment on her first home. She took out $20,000 and had to start her repayments 3 years ago. She has made the minimum required re-contribution...
-
You are taking over the management of soccer ball production and you are seeking competitive advantage by minimizing unit production costs. You currently operate two plants, one in China and one in...
-
You received an inquiry from a staff of your client asking you to clarify to him the following: When is income to be reported for accounting and tax purposes? When is expense to be recognized for...
-
Why do you think the IRS requires depreciation to be recaptured on the sale of a 1231 asset? Is it fair? Explain the reason briefly.
-
What is the purpose of creating a Balance Sheet? List the three general classifications of the balance sheet and possible categories Discussion Question 3: What is the purpose of the Statement of...
-
Echeverria SA is an Argentinian manufacturing company whose total factory overhead costs fluctuate somewhat from year to year according to the number of machine-hours worked in its production...
-
Write each fraction as a percent. 7 50
-
Dirt Bikes, Inc., produces custom motorized dirt bikes. Each dirt bike is built to customer specifications. During April, its first month of operations, Dirt Bikes began production of three customer...
-
Tax Services, Inc., provides tax accounting services and began operations on February 1. It began jobs 1 through 4 during the first half of February. The following transactions occurred that week. 1....
-
What information is included on a time-sheet?
-
Explore the Current DSC Tuition and Fees link found on the Lecture page. Based on the current tuition and fees listed specifically for Associate of Arts courses, how much would it cost for 12 credit...
-
Explore the Types of Aid links (Federal and DSC pages) found on the Online Lecture page. Describe the differences between the types of aid and how each can assist with college costs.
-
Can i please have some clarification on if these journals are correct? Trial balance and adjustments are attached for reference. i. ii. iii. iv. V. vi. vii. Adjust sales revenue for $1,600 that was...
Study smarter with the SolutionInn App