The Demand for Good X Is Estimated to Be Q_x^d

question 49

Multiple Choice

The demand for good X is estimated to be Q_x^d = 10,000 − 4P_X + 5P_Y + 2M + A_X, where P_X is the price of X,P_Y is the price of good Y,M is income,and A_X is the amount of advertising on X.Suppose the present price of good X is $50,P_Y = $100,M = $25,000,and A_X = 1,000 units.Based on this information,the income elasticity of good X is:

• A) 0.008.
• B) 0.082.
• C) 0.82.
• D) 8.2.

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Definitions:

Foley Catheter

A flexible tube inserted into the bladder to drain urine, typically used for patients unable to urinate on their own.

Sterile Gloves

Gloves that have been treated to eliminate all forms of bacteria and other contaminants, used in medical and surgical procedures to maintain sterility.

Hypothalamus

A region of the brain responsible for the production of many of the body's essential hormones, influencing hunger, thirst, sleep, and emotional activity.

Forebrain

The anterior part of the brain, including the cerebral hemispheres, thalamus, and hypothalamus, involved in complex behavioral and cognitive processes.