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Economics

You are the business adviser to a hyper market in Penang. You have been given the following information on the demand of chicken in Penang. Analyze the information below and advise the purchasing department accordingly.

lnQ = 20- 2.174ln P + 0.461ln I +1.909ln P ,

Where Q= quantity demanded in Penang

P= price per kg of chicken

I= average personal income

Pm =an index of the price of fish

Additional information: Due to the implementation of minimum wage, disposable income is expected to increase by 5 per cent next year.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91572522

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