Posted by Mishal Almandhour on Thursday, July 1, 2010 at 3:19pm.
Explain the relationship between product X, product Y and product Z or the properties of each according to the following statements
a. Cross price elasticity between X and Y is 4
b. Cross price elasticity between X and Y is 12
c. Cross price elasticity between Y and Z is 0
d. Cross price elasticity between X and Z is 0.6
e. The demand price elasticity for product X is 4
f. The demand price elasticity for product y is  0.4
g. The Income elasticity for product X is 4
h. The Income elasticity for product Y is 0.4
i. The Income elasticity for product Z is 4

managerial economics  Writeacher, Thursday, July 1, 2010 at 7:13pm
If you are expecting someone to do your work for you, you came to the wrong place. Someone here might be able to help if YOU post what YOU THINK the answers are and your reasons why.

managerial economics  Anonymous, Friday, November 6, 2015 at 10:35am
suppose the demand for product X is estimated as:
Qdx = 7,000 – 30Px + 20Py – 18Pz – 0.5M
Where,
Px = Price of product X
Py = Price of product y
Pz = Price of Product Z
M = Income.
Assume Px = 16, Py = 10, Pz = 8 and M = RM2000
a)How many units of Product X will be purchased?
b)Derive the demand function for Product X.
c)Explain the relationship between Product X and Y.
d)Explain the relationship between Product X and Z.
Is Product X a normal or inferior good? Why?
Answer This Question
Related Questions
 economics  You are the manager of a firm that receives revenues of $40,000 per ...
 economic  Suppose that your firm was accused of illegally conspiring with other...
 economics  suppose the demand curve for a product is given by Q=102P+Ps1,where...
 Econ  You are the manager of a firm that receives revenues of $40,000 per year ...
 economics  Assume that demand for product A can be expressed as QA = 500 ¨C 5PA...
 Managerial Economics  This is some HW for a Managerial Econ class. I've got ...
 managerial economics  4. The equation for a demand curve has been estimated to ...
 Managerial Economics  The coefficient of the price of gasoline in the ...
 Managerial Economic  Mr. Smith has the following demand equation for a certain ...
 Economics  3. Suppose a firm has a constant marginal cost of $10. The current ...
More Related Questions