Use the Following General Linear Demand Function Below $Q _ { d } = a + b P + c M + d P _ { R }$

question 33

Multiple Choice

Use the following general linear demand function below: $Q _ { d } = a + b P + c M + d P _ { R }$ where Q_d = quantity demanded,P = the price of the good,M = income, $P _ { R }$ = the price of a good related in consumption.For the general linear demand function given above

• A) \(\Delta Q _ { d } / \Delta M = c\)
• B)d is the effect on the quantity demanded of the good of a one-dollar change in the price of the related good,all other things constant.
• C)b is the effect on the quantity demanded of the good of a one-dollar change in the price of the good,all other things constant.
• D)all of the above

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Definitions:

Matching Principle

An accounting rule that dictates expenses should be recorded in the same period as the revenues they helped to generate.