Given the Demand Function Q = 450 - 2P -

question 8

Multiple Choice

Given the demand function Q = 450 - 2P - PA + 0.01Y2
Where P = 15, PA = 20 and Y = 100, find the income elasticity of demand.

• A)0.6
• B)0.4
• C)0.2
• D)1
• E)0.8

---

Definitions:

Play Therapy

A psychotherapeutic approach primarily used to help children explore their lives and freely express repressed thoughts and emotions through play.

Therapists

Professionals trained to provide psychological support and treatment to individuals, families, or groups.

Functions Of Friendship

The roles that friendships serve, such as providing emotional support, companionship, and a sense of belonging.

Early Bloomer

A person, particularly a child, who reaches developmental milestones earlier than the average for their age, particularly in terms of physical or intellectual growth.