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a.complements since the coefficient on M is positive.
b.substitutes since the coefficient on M is positive.
c.complements since the coefficient on is positive.
d.substitutes since the coefficient on is positive.
-The estimated demand for a good is where Q is the quantity demanded of the good,P is the price of the good,M is income,and
is the price of related good R.This good and good R are
Heuristic
A rule of thumb that is derived from experience and used in decision making and problem solving, even though there is no guarantee of its accuracy or usefulness.
Insightful
Having or showing an accurate and deep understanding; perceptive.
Convergent
Relating to or involving the coming together of lines, ideas, or pieces of information so they eventually merge.
Divergent Thinking
A mental approach or technique for producing innovative ideas through the examination of numerous potential answers.
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