Use the following general linear demand relation to answer the next question:
Qd = 100 – 5P + 0.004M – 5PR, where P is the price of good X, M is income and PR is the price of a related good, R.
From the demand function it is apparent that good X is
Use the following general linear demand relation to answer the next question: Q d = 100 – 5 P + 0.
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