The Demand for Video Recorders Has Been Estimated to Be

question 38

Multiple Choice

The demand for video recorders has been estimated to be Q_v = 134 − 1.07P_f + 46P_m −2.1P_v − 5I,where Q_v is the quantity of video recorders,P_f denotes the price of video recorder film,P_m is the price of attending a movie,P_v is the price of video recorders,and I is income.Based on the estimated demand equation we can conclude:

• A) video recorders are inferior goods.
• B) video recorder film is a substitute for video recorders.
• C) the demand for video recorders is inelastic.
• D) the demand for video recorders is neither inferior nor inelastic, and video recorder film is not a substitute for video recorders.

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