Answer:
Q = 10 - 0.1p
Explanation:
Given that,
Demand equation for good 'x':
Q = 9 - 0.1p - p_y + 0.01p_z + 0.0005Y
Where,
p = own price of the good
Q = quantity demanded
p_y = price of a related good = $3
p_z = price of a different related good = $200
Y = consumer income = $4,000/month
Therefore, the quantity demanded as a function of the price can be written as follows;
Q = 9 - 0.1p - p_y + 0.01p_z + 0.0005Y
Q = 9 - 0.1p - 3 + 0.01(200) + 0.0005(4,000)
Q = 6 - 0.1p + 2 + 2
Q = 10 - 0.1p
