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Starting with the estimated demand function for Chevrolets given in problem 2, assume that the average value of the independent variables changes to N=225 million, I= 12,000, PF=10,000, Pg=100 cents, A=250,000, and p1=0(ie. The incentives are phased out) (a) Find the equation of the new demand curve for Chevrolets. (b) if Pc is 10,000, find the value of Qc.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M951903

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