Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25 × PCTV + 0.0005 × M + 0.3 × PSTV,where QCTV is the quantity of cable TV demanded (thousands of households) ,PCTV is the price of cable TV,M is income and PSTV is the price of satellite TV service.We can see that:
A) cable TV service is an inferior good.
B) cable TV service is a normal good.
C) cable TV service and satellite TV service are complements.
D) cable TV service and satellite TV service are unrelated to one another.
Correct Answer:
Verified
Q1: Suppose the demand function for cable TV
Q2: Refer to Figure 2.1.A movement from point
Q4: Suppose the demand function for cable TV
Q5: The effect of an increase in the
Q6: Refer to Figure 2.1.A movement from point
Q7: Suppose the demand function for cable TV
Q8: Suppose the demand function for cable TV
Q9: A product's _ shows how much sellers
Q10: An increase in the price of a
Q11: Two products are complements if:
A) a decrease
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