The Estimated Demand for a Good Is $\hat { Q } = 4,800 - 16 P - 0.65 M - 1.5 P _ { R }$

question 24

Multiple Choice

The estimated demand for a good is $\hat { Q } = 4,800 - 16 P - 0.65 M - 1.5 P _ { R }$ where Q is the quantity demanded of the good,P is the price of the good,M is income,and $P _ { R }$ is the price of related good R.If the price of the good rises by $10,all else constant,the quantity demanded will ________ by ________ units.

• A)increase; 16 units
• B)decrease; 160 units
• C)decrease; 1.5 units
• D)increase; 150 units

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