The estimated demand function (Moschini and Meilke, 1992) for Canadian processed pork is Q=161-20p+20pp +3pc +2Y, where Q is the quantity in million kilograms (kg) of pork per year, p is the dollar price per kg. Po is the price of beef in Canadian dollars per kg. p. is the price of chicken in dollars per kg, and Y is average income in thousands of dollars. What is the demand function if we hold Pb. Pc. and Y at their typical values during the period studied: Pb = 3.2, Pc = 3.3, and Y = 11.5? Demand as a function of p is (enter your first response rounded to one decimal place and your second response as a whole number): 2-0-0P. Q=
The estimated demand function (Moschini and Meilke, 1992) for Canadian processed pork is Q=161-20p+20pp +3pc +2Y, where Q is the quantity in million kilograms (kg) of pork per year, p is the dollar price per kg. Po is the price of beef in Canadian dollars per kg. p. is the price of chicken in dollars per kg, and Y is average income in thousands of dollars. What is the demand function if we hold Pb. Pc. and Y at their typical values during the period studied: Pb = 3.2, Pc = 3.3, and Y = 11.5? Demand as a function of p is (enter your first response rounded to one decimal place and your second response as a whole number): 2-0-0P. Q=
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Transcribed Image Text:The estimated demand function (Moschini and Meilke, 1992) for Canadian processed pork is
Q=161-20p+20p +3pc +2Y,
where Q is the quantity in million kilograms (kg) of pork per year, p is the dollar price per kg. p, is the price of beef in
Canadian dollars per kg. Pe is the price of chicken in dollars per kg, and Y is average income in thousands of dollars.
What is the demand function if we hold P. P. and Y at their typical values during the period studied: p = 3.2, pc = 3.3,
and Y = 11.5?
Demand as a function of p is (enter your first response rounded to one decimal place and your second response as a
whole number):
Q=0-p.
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