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(b) Given the hypothetical demand function as QX =100 -5PX +0.1Y -20PY
Whereby:
QX = Monthly expenditures per Household kgs of meat.
PY = Price per kg of chicken. = 4000 Tshs.
PX = Price per kg of Meats. = 5000 Tshs.
Y = Monthly House Hold Income. 150,000 Tshs.
REQUIRED:
(i) Interpret the parameter?s estimate.
(ii) At the stated values of the variables above, Calculate the weekly expenditures.
(iii) Re-write the demand equation.
(iv) Calculate the cross, price and income elasticity of demand
Answer
1
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Subject: Economics
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Subject: Economics
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Subject: Economics
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Subject: Economics
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Subject: Economics
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Muzamil Hussain
Subject: Economics
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Maam please answer this e,f,g,h part
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What are you looking for?

(b) Given the hypothetical demand function as QX =100 -5PX +0.1Y -20PY

Whereby:

QX = Monthly expenditures per Household kgs of meat.

PY = Price per kg of chicken. = 4000 Tshs.

PX = Price per kg of Meats. = 5000 Tshs.

Y = Monthly House Hold Income. 150,000 Tshs.

REQUIRED:

(i) Interpret the parameter?s estimate.

(ii) At the stated values of the variables above, Calculate the weekly expenditures.

(iii) Re-write the demand equation.

(iv) Calculate the cross, price and income elasticity of demand

(a)Production of food grains

(b)Packaging of products

(c)Mass communication