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

question 102

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.What is the quantity demanded of good X?

• A) 61,500
• B) 61,300
• C) 61,300 − 4P_X
• D) 61,500 − 4P_X

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Definitions:

USDA Approval

An official certification or endorsement by the United States Department of Agriculture, indicating compliance with its standards, especially in food safety, agricultural practices, and product quality.

Gillett Amendment

A regulation prohibiting the use of federal funds for publicity or propaganda purposes, introduced in the United States in the 20th century.

Public Relations

The strategic management of communication and relationships between organizations and their various publics.

Public Service

Activities or tasks performed for the benefit of the public or its institutions, often associated with government agencies or non-profit organizations.