Kindly help me solve this economics question?
- OiyLv 68 months agoFavourite answer
The parameter is logical. The demand has a negative slope. It increases with income. And the sign of Py is positive, so x and y are substitutes. The consumption of s or Qx= 10 - 5x2 +0.001x20,000 +10x2.50. If the income increases to 30,000, Qx would be 10 -5x2 +0.001 x30,000 +10x2.50. Qx increases with income. So X is obviously not an inferior good.
- 8 months ago
Hhmmmmm. If you take in all the components, and add up the sums. Also looking at the future and present. There seems to be a reoccurring pattern and if you look at other governments, just take the second part AND SHOVE IT UP UR BUTT. NERD (jk 🦑)