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

question 63

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.
-If income decreases by $2,000, all else constant, quantity demanded will ________ by _________ units.

• A) increase; 1.30 units
• B) decrease; 6.5 units
• C) increase; 1,300 units
• D) decrease; 65 units

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