15. The demand for good X is estimated to be Q" = 10,000 – 4Px + 5Py + 2M + Ax where Px is the price of X, Py is the price of good Y, M is income, and Ay is the amount of advertising on X. Suppose the present price of good X is $50, Py = $100, M = $25,000, and Ax= 1,000 units. What is the quantity demanded of good X? A. 61,500 B. 61,300 C. 61,300 – 4Px D. 61,500 – 4Px

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
How we can get 61300?
15. The demand for good X is estimated to be Q̟" = 10,000 - 4Px + 5Py + 2M + Ax where Px
is the price of X, Py is the price of good Y, M is income, and Ax is the amount of advertising
on X. Suppose the present price of good X is $50, Py = $100, M = $25,000, and Ax= 1,000
units. What is the quantity demanded of good X?
A. 61,500
B. 61,300
C. 61,300 – 4Px
D. 61,500 – 4Px
Transcribed Image Text:15. The demand for good X is estimated to be Q̟" = 10,000 - 4Px + 5Py + 2M + Ax where Px is the price of X, Py is the price of good Y, M is income, and Ax is the amount of advertising on X. Suppose the present price of good X is $50, Py = $100, M = $25,000, and Ax= 1,000 units. What is the quantity demanded of good X? A. 61,500 B. 61,300 C. 61,300 – 4Px D. 61,500 – 4Px
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cash Flow
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education