The general linear demand function below is used to answer questions :
$Q _ { d } = a + b P + c M + d P _ { R }$
where Q d = quantity demanded, P = the price of the good, M = income,
$P _ { R }$ = the price of a good related in consumption.
-If c = 15 and d = 20, the good is

Question

The general linear demand function below is used to answer questions  :
 $Q _ { d } = a + b P + c M + d P _ { R }$ 
where Q d = quantity demanded, P = the price of the good, M = income,
 $P _ { R }$ = the price of a good related in consumption.
-If c = 15 and d = 20, the good is

Quizplus · Accepted Answer

The coefficient on income (c) is positive, indicating that the good is a normal good. The coefficient on the price of the related good (d) is positive, indicating that the good is a substitute for good R.

The General Linear Demand Function Below Is Used to Answer Qd=a+bP+cM+dPRQ _ { d } = a + b P + c M + d P _ { R }Qd​=a+bP+cM+dPR​

The General Linear Demand Function Below Is Used to Answer $Q _ { d } = a + b P + c M + d P _ { R }$