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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, P= $10,000 P= 100 cents, A=$250,000 and P=O

(a) Find the equation of the new demand curve for Chevrolts.

(b) Plot this new demand curve D and on the same graph plot the demand curve for Chevrolt D.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9465714

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