Question

Let PX denote the price of product X (and likewise for other subscripts); M, the consumers’ income, and AX, the amount invested in advertising for product X (and likewise for other subscripts). If PY = 6; AZ = 50000; PW = 0.5, when graphing the demand function QDX = 3500 – 250PX – 280PY – 0.02AZ, what is the intercept of the Q-axis? Select one below. (A) 566.7667. (B)-13. (C) 820. (D)1050.

Answer 1

Explanation:

denote the price of product X (and likewise for other subscripts); M, the consumers’ income, and AX, the amount invested in advertising for product X (and likewise for other subscripts). If PY = 6; AZ = 50000; PW = 0.5, when graphing the demand function QDX = 3500 – 250PX – 280PY – 0.02AZ, what is the intercept of the Q-axis? Select one below. (A) 566.7667. (B)-13. (C) 820. (D)1050