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tickets at a popular ski resort is given by: Q = 2,500 - 0.25p + 2palt - 4Piodging + 0.005Y p= price of a lift ticket Palt = price of a tropical vacation package = $750 Q = quantity demanded Plodging = price of ski resort lodging = $250 !! Y = consumer income = $10,000 emanded as a function of the price can be written: 050 - 0 25p 3 - 0 25p 050 - 4p 200 - 0.25p I resort lodging can be considered goods. be considered to be good.

tickets at a popular ski resort is given by: Q = 2,500 - 0.25p + 2palt - 4Piodging + 0.005Y p= price of a lift ticket Palt = price of a tropical vacation package = $750 Q = quantity demanded Plodging = price of ski resort lodging = $250 !! Y = consumer income = $10,000 emanded as a function of the price can be written: 050 - 0 25p 3 - 0 25p 050 - 4p 200 - 0.25p I resort lodging can be considered goods. be considered to be good.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Demand for lift tickets at a popular ski resort is given by: Q = 2,500 - 0.25p + 2palt - 4Plodging + 0.005Y where: p= price of a lift ticket Palt = price of a tropical vacation package = $750 Plodging = price of ski resort lodging = $250 Y = consumer income = $10,000 Q = quantity demanded The quantity demanded as a function of the price can be written: O A. Q= 3,050 - 0.25p O B. Q= 763 - 0.25p O C. Q= 3,050 - 4p O D. Q = 12,200 - 0.25p Lift tickets and resort lodging can be considered goods. Lift tickets can be considered to be good.
Transcribed Image Text:Demand for lift tickets at a popular ski resort is given by: Q = 2,500 - 0.25p + 2palt - 4Plodging + 0.005Y where: p= price of a lift ticket Palt = price of a tropical vacation package = $750 Plodging = price of ski resort lodging = $250 Y = consumer income = $10,000 Q = quantity demanded The quantity demanded as a function of the price can be written: O A. Q= 3,050 - 0.25p O B. Q= 763 - 0.25p O C. Q= 3,050 - 4p O D. Q = 12,200 - 0.25p Lift tickets and resort lodging can be considered goods. Lift tickets can be considered to be good.
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