Suppose the demand for good X is given by Qdx = 20 - 6Px + Py + M. The price of good X is $5, the price of good Y is $8, and income is $100. Given these prices and income, how much of good X will be purchased?

demand for Caramel Iced Mochas is given by p=7−.25x dollars per drink, where x drinks are sold every day. At what number of drinks sold is consumer spending maximized? Round your answer to the nearest whole number

When the price of butter was "low," consumers spent $5 billion annually on its consumption. When the price doubled, consumer expenditures increased to $7 billion. Recently you read that this means that the demand curve for butter is upward sloping (i. e., price and quantity demanded are directly related, as price increases, quantity demanded also increases). Do you agree? Explain.

Inferior goods are affordable substitutes for more expensive goods. Which of the following is an example of someone purchasing an inferior good?         Tom saved his money for an entire year so that he could buy the nicest car on the lot.         Susan decided to buy her favorite pasta, rather than the store-brand pasta that she usually purchases.         Sam had to stay within his budget, so he decided to buy generic toaster pastries instead of his favorite brand-name pastries.         Jennifer earned a bonus at work, so she decided to go out to dinner at a fancy restaurant.