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Mathematics, 12.02.2020 00:51 evanwall91
The demand for video recorders has been estimated to be Qv = 134 − 1.07Pf + 46Pm − 2.1Pv − 5I, where Qv is the quantity of video recorders, Pf denotes the price of video recorder film, Pm is the price of attending a movie, Pv is the price of video recorders, and I is income. Based on the estimated demand equation we can conclude:
the demand for video recorders is neither inferior nor inelastic, and video recorder film is not a substitute for video recorders.
video recorder film is a substitute for video recorders.
the demand for video recorders is inelastic.
video recorders are inferior goods.
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The demand for video recorders has been estimated to be Qv = 134 − 1.07Pf + 46Pm − 2.1Pv − 5I, where...
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