The general linear demand function below is used to answer the questions:

where Qd = quantity demanded, P = the price of the good, M = income, = 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 the questions:

where Qd = quantity demanded, P = the price of the good, M = income,   = the price of a good related in consumption.

-If c = 15 and d = 20, the good is

Quizplus · Accepted Answer

Without specific information on how the quantities demanded for the good and good R change with changes in income (c) and the price of another good (d), it's impossible to accurately determine if the good is normal, inferior, a substitute, or a complement. The choices provided do not offer enough context or data to make a determination based on the values of c and d alone.

The General Linear Demand Function Below Is Used to Answer