Suppose the demand function for pizza in Ithaca is given by P = 100 - Q + X - Y where P=price, Q=quantity, and X and Y a
Posted: Wed Jul 06, 2022 6:34 pm
Suppose the demand function for pizza in Ithaca is given by P =100 - Q + X - Y where P=price, Q=quantity, and X and Y are otherfactors that may affect demand.
Which of the following are true? (Select all that apply.)
a. Y could be a tax
b. X could be the price of calzones (a substitute good)
c. Y could be the consumer's income
d. Y could be the price of soda (a complement good)
e. X could be the wage rate for pizza chefs
Which of the following are true? (Select all that apply.)
a. Y could be a tax
b. X could be the price of calzones (a substitute good)
c. Y could be the consumer's income
d. Y could be the price of soda (a complement good)
e. X could be the wage rate for pizza chefs