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The generalized demand function for good A is: Qd = 600 - 4PA - 0.03M - 12PB + 15F + 6Pe + 1.5N where Qd = quantity demanded of good A each month, PA = price of good A, M = average household income, PB = price of related good B, F = consumer taste index ranging in value from 0 to 10 (the highest rating), Pe = price consumers expect to pay next month for good A, and N = number of buyers in the market for good A.

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9498608

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