Refer to the Following:
the Estimated Demand for a Good $\hat { Q } = 4,800 - 16 P - 0.65 M - 1.5 P _ { R }$

question 12

Multiple Choice

Refer to the following:
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.
-The good is

• A) an inferior good since the coefficient on \(P _ { R }\) is negative.
• B) a normal good since the coefficient on \(P _ { R }\) is negative.
• C) a normal good since the coefficient on M is greater than one (in absolute value).
• D) an inferior good since the coefficient on M is negative.
• E) none of the above

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Definitions:

Online Payments

Transactions that enable individuals to pay for products or services over the internet using digital financial instruments, such as credit cards, electronic wallets, or bank transfers.

Electronic Storefront

The website of a single company, with its own Internet address, at which orders can be placed.

Single Store

A retail business that operates from one physical location, offering products or services to customers from that sole position.

Electronic Marketplace

A virtual market space on the Web where many buyers and many sellers conduct electronic business activities.