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MICROECON 0001 - The demand for some good

Question # 00510800
Subject: Economics
Due on: 04/12/2017
Posted On: 04/12/2017 06:34 AM

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The demand for some good x is estimated to be:

ln(Qx) = 10 - 4ln(Px) + 4ln(M)

where Qx and Px are the quantity and price of good x and M is income. What impact does an increase in income(M) have on the equilibrium price and quantity of good x?(Increase, decrease, uncertain). Explain.

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MICROECON 0001 - The demand for some good

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