Use the Following Information on the Demand for Good X $Q _ { d } = 30,500 - 1,000 P + 0.25 M + 5 P _ { R }$

question 62

Multiple Choice

Use the following information on the demand for good X to answer the next 6 questions.Suppose the quantity demanded of good X (Q_dADVANCE \r 0) depends only on the price of good X (P) ,monthly income (MADVANCE \r 1) ,and the price of a related good R (P_RADVANCE \r 0) : $Q _ { d } = 30,500 - 1,000 P + 0.25 M + 5 P _ { R }$
-The equation for the (direct) demand curve for the good when M = $60,000 and P_R = $1,000 is Q_d = _____________.

• A)Q_d = 50,500 - 1,000P
• B)Q_d = 30,500 - 1,000P
• C)Q_d = 30,500 - 1,000P + 0.25M
• D)Q_d = 30,500 - 1,000P + 5P_R
• E)P = 50.5 - 0.0001 P

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Definitions:

Estimated Life

The expected duration or operational lifespan of an asset, determining how long it will be useful and depreciated in accounting records.

Salvage Value

The estimated value that an asset will realize upon its sale at the end of its useful life, also considered in depreciation calculations.

Asset Improvements

Enhancements or upgrades made to a company's assets to increase their efficiency, productivity, or value.

Ordinary Maintenance

Ordinary maintenance involves the routine upkeep and repairs necessary to maintain assets in their current condition, without significantly enhancing their value or extending their life.