Quantity demanded is a flow variable which means that

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Elementary and Intermediate Algebra: Algebra Within Reach
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Chapter 3 / Exercise 19
Elementary and Intermediate Algebra: Algebra Within Reach
Larson
Expert Verified
42) Quantity demanded is a flow variable, which means that it must be expressed A) as so much at a specific moment in time. B) in units of the good per year. C) in units of the good per week. D) in units of the good per day. E) as so much per period of time. 42)
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Elementary and Intermediate Algebra: Algebra Within Reach
The document you are viewing contains questions related to this textbook.
Chapter 3 / Exercise 19
Elementary and Intermediate Algebra: Algebra Within Reach
Larson
Expert Verified
FIGURE 3 - 1 43) Refer to Figure 3 - 1. If demand is given by the curve D, the ________ energy - efficient light bulbs is 200 000 at a price of $9. 43)
44) Refer to Figure 3 - 1. The movement along the demand curve, D , from point v to point x , could be caused by 44)
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45) Refer to Figure 3 - 1. A shift of the demand curve for energy - efficient light bulbs from D to D 2 could be caused by 45)
46) Suppose that the demand curves for goods A, B, and C have the following functional forms: Q A = 120 - 3.5 P A - 6P B , Q B = 100 - 2P B + 3P C , and Q C = 1500 - 0.5P C . Based on these demand curves, which of the following pairs of goods are known to be complements? 46) A) A and C, and B and C B) A and B C) B and C D) A and C E) none of the above
47) Suppose that the demand curves for goods A, B, and C have the following functional forms: Q A = 120 - 3.5P A - 6P B , Q B = 100 - 2P B + 3P C , and Q C = 1500 - 0.5P C . Based on these demand curves, which of the following pairs of goods are known to be substitutes? 47)
48) Suppose that M denotes income and that the demand curves for goods A, B, and C have the following functional forms: Q A = 120 - 3.5P A - 6P B + 14M, Q B = 100 - 2P B + 3P C + 1.1M, and Q C = 1500 - 0.5P C - 300M. Based on these demand curves, which of the following goods are known to be normal goods? 48)
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