The estimated market demand for good X is Q = 70 - 3.5P - 0.6M + 4PZ where Q ˆ is the estimated number of units of good X demanded, P is the price of the

good, M is income, and PZ is the price of related good Z. (All parameter estimates are
statistically significant at the 1 percent level.)
a. Is X a normal or an inferior good? Explain.
b. Are X and Z substitutes or complements? Explain.
c. At P = 10, M = 30, and PZ = 6, compute estimates for the price (E ˆ), income (E ˆ M), and
cross-price elasticities (E ˆ XZ).

Spirula trading inc sublets a part of its offices building to jade inc. for a period of ten years . where will the company disclose this information?

Which financial component is a mandatory deduction from your gross pay? a. sales tax b. social security tax c. health insurance d. disaster relief fund (drf) e. voluntary deduction

The market price of cheeseburgers in a college town increased recently, and the students in an economics class are debating the cause of the price increase. some students suggest that the price increased because the price of beef, an important ingredient for making cheeseburgers, has increased. other students attribute the increase in the price of cheeseburgers to a recent increase in college student enrollment.1. the first group of students thinks the increase in the price of cheeseburgers is due to the fact that the price of beef, an important ingredient for making cheeseburgers, has increased. (what happened to demand and supply, shift to the right or left)2. the second group of students attributes the increase in the price of cheeseburgers to the increase in college student enrollment. (what happens to demand and supply, shift to the right or left)3. suppose that both of the events you analyzed above are partly responsible for the increase in the price of cheeseburgers. based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of cheeseburgers? (choose a, b, c, or d)a)if the price increase was small, then the supply shift in the market for cheeseburgers must have been larger than the demand shift. b)if the equilibrium quantity of cheeseburgers decreases, then the demand shift in the market for cheeseburgers must have been larger than the supply shift. c)if the equilibrium quantity of cheeseburgers decreases, then the supply shift in the market for cheeseburgers must have been larger than the demand shift. d)whichever change occurred first must have been the primary cause of the change in the price of cheeseburgers.