Given an estimated monthly demand function for avocados of Q = 104 – 40p + 20pt + 0.01Y, show how the demand curve shifts as per capita income, Y, increases from $4,000 to $5,000 per month. The price of tomatoes, pt, is $0.80. Illustrate this shift in a diagram.
Given an estimated monthly demand function for avocados of Q = 104 – 40p + 20pt + 0.01Y, show how the demand curve shifts as per capita income, Y,”
by | Mar 12, 2022 | Uncategorized
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