Question: the estimated demand function moschini and meilke 1992 for canadian...
The estimated demand function (Moschini and Meilke, 1992) for Canadian processed pork is
Q = 161 − 20p + 20pb + 3pc + 2Y,
where Q is the quantity in million kilograms (kg) of pork per year, p is the dollar price per kg, pb is the price of beef in Canadian dollars per kg, pc, is the price of chicken in dollars per kg, and Y is average income in thousands of dollars. What is the demand function if we hold pb, pc, and Y at their typical values during the period studied:
pb = 4.6, pc = 3.5, and Y = 13?
Demand as a function of p is (make your response rounded to one decimal place and your second response as a whole
number): Q = ____ − ____ p.