The demand for pizzas in a large town is written as:
Qd = 120 - 10P + 5Pb - 0.5Ps - 10Y, where Qd is the quantity demanded, P is the price, Pb is the price of burritos, Ps is the price of soft drinks sold in the pizza restaurants, and Y is personal income per month (in thousand dollars). If there is a $1,000 increase in personal income, how will the Qd change?
A) increase by 10
B) decrease by 10
C) unchanged
D) not enough information provided
B
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United States’ economic activity is responsible for what percentage of worldwide shipping volume?
a. 20 percent b. 43 percent c. 28 percent d. 50 percent
When there is political instability in another country, the United States can expect
A) an increase in the capital account balance due to an increase in the current account. B) an increase in the capital account balance due to the movement of assets to the U.S. C) a decrease in the balance of payments due to a decrease in special drawing rights. D) a decrease in the balance of payments due to a decrease in the demand for goods and services.