Given the Demand Function Q_X = 5,000 - 250P_X +120P_Y

question 115

Multiple Choice

Given the demand function Q_X = 5,000 - 250P_X +120P_Y +.04I where P_Y = $50.00 and I = $60,000, what is the price equation of the demand curve for X?

• A) P_X = 20 - .004Q_X
• B) P_X = 20 + .004Q_X
• C) P_X = 53.6 - .004Q_X
• D) P_X= 53.6 + .004Q_X
• E) none of the above

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