15. Given your solutions for Qdx in #13 and #14, compute the percentage change in Qdx due to the change in income from 10,000 pesos to 15,000 pesos. Show the solution. thanks!A. 100%B. 44.44%C. 30.69%D. 15.23%E. None of the above NO:DATE13) Demand Equation: Qdx = 100 - 5Px -5PyPx= 5 pesosPy = 10 pesosIncome= 10,000 pesosSubstituting the given values to the formula for demand equation, we willget: Qdx= 100 - 5(5) - 5(10) + 0:02 (10,000)Qdx = 100-25 - 50 t 200Qdx = 300 - 75Qdx = 225kg+0.02Income1)14) Demand Equation: Qdx = 100 - 5Px -5Py + 0.021ncomePx= 5 pesosPy= 10 pesosIncome= 15,000 pesosSubstituting the given values to the formula for demand equation, we willQdx = 100 - 5(5) - 5(10) t 0. 02 ( 15,0007Qdx = 100 -25 - 50 + 300Qdx = 400 - 75Qdx = 325 kg%3Dget:%D

As per the law of demand, price has an inverse relationship with quantity demanded

Given your solutions for Qdx in #13 and #14, compute the percentage change in Qdx due to the change in income from 10,000 pesos to 15,000 pesos. Show the solution. thanks! A. 100% B. 44.44% C. 30.69% D. 15.23% E. None of the above

Given your solutions for Qdx in #13 and #14, compute the percentage change in Qdx due to the change in income from 10,000 pesos to 15,000 pesos. Show the solution. thanks! A. 100% B. 44.44% C. 30.69% D. 15.23% E. None of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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