Suppose the market demand curve for apples can be expressed as Q^D = 220 - 2P - Pb + 0.2Y,where Q^D is the quantity of apples demanded,P is the price of an apple,Pb is the price of a banana,and Y is the average annual household income in thousands of dollars.What is the change in the quantity demanded of apples if the income increases by $10,000? A) 220 apples B) 2 apples C) 40 apples D) Not enough information to answer the question.

Question

Quizplus · Accepted Answer

The Answer of Suppose the market demand curve for apples can be expressed as Q^D = 220 - 2P - Pb + 0.2Y,where Q^D is the quantity of apples demanded,P is the price of an apple,Pb is the price of a banana,and Y is the average annual household income in thousands of dollars.What is the change in the quantity demanded of apples if the income increases by $10,000? A) 220 apples B) 2 apples C) 40 apples D) Not enough information to answer the question.

Suppose the Market Demand Curve for Apples Can Be Expressed