Answered: IF demand equation is Qdx=20+3M assume…

IF demand equation is Qdx=20+3M assume that the income of individuals are 30ORO. What will be the the relation between them a. Positive, 920 O b. Negative ,1520 O c. Positive, 1520 O d. Negative, 920

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 3SCQ: Why is the demand curve with constant unitary elasticity concave?

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Question

IF demand equation is Qdx=20+3M assume that the
income of individuals are 30ORO. What will be the the
relation between them
O a.
Positive, 920
O b. Negative ,1520
O c.
Positive, 1520
O d. Negative, 920

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