This function is: QT = 200 -.01PT +.005PM -10PG +.01I +.003A 1. Assuming there is a $100 decrease in income (I), what change in Toyota demand QT will result (an increase or decrease and also give the numerical value of it, too)? 2. Assuming there is a $1000 Toyota price (PT) decrease, what change in Toyota’s quantity demanded QT will result (an increase or decrease and also give the numerical value of it, too)? 3. Assuming there is a $1000 decrease in average family income (I), what change in Toyota demand will result (an increase or decrease and also give the numerical value, too)? 4. Assuming there is a $500 decrease in the price of Mazdas (PM), what change in Toyota demand QT will result (an increase or decrease and also give the numerical value of it too)?
This function is:
QT = 200 -.01PT +.005PM -10PG +.01I +.003A
1. Assuming there is a $100 decrease in income (I), what change in Toyota
2. Assuming there is a $1000 Toyota
3. Assuming there is a $1000 decrease in average family income (I), what change in Toyota demand will result (an increase or decrease and also give the numerical value, too)?
4. Assuming there is a $500 decrease in the price of Mazdas (PM), what change in Toyota demand QT will result (an increase or decrease and also give the numerical value of it too)?
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