The Demand for Video Recorders Has Been Estimated to Be

question 100

Multiple Choice

The demand for video recorders has been estimated to be linear and given by the demand relation Q_v = 145 − 3.2P_v + 7M − 0.95P_f − 39P_m,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 M is income.Based on the estimated demand equation we can conclude:

• A) video recorders are normal goods.
• B) the demand for video recorders is inelastic.
• C) video recorders are normal goods and the demand for video recorders is inelastic.
• D) video recorders are normal goods and video recorder film is a complement for video recorders.

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Definitions:

Extend

To stretch or spread out; to prolong in duration or space.

Abduct

To move a limb or other part of the body away from the midline or another part of the body.

Skeletal Muscles

Muscles attached to bones that are responsible for movement, posture, and stability, known for being under voluntary control.

Characteristic

A distinguishing trait, quality, or property of an individual or thing.