Question

Qd= 325 -3.4 Pa+5.25I+3.45Pp+3.75Pc-6.45Powhat is the equation of the demand for almonds if consumer income is $62,000 the price of pistachios is $5.65 per pound and the price of cashews is $7.30 per pound and the price of almond oil is $10 per gallon

Answer 1

`Q(d)=325-3.4P(a)+5.25l+3.45P(p)+3.75P(c)-6.45P(o)`
`\begin{gathered} P(c)=7.30 \\ P(p)=5.65 \\ P(a)=10 \end{gathered}`

substitute them in the given equation

`Q(d)=325-3.4(10)+5.251+3.45(5.65)+3.75(7.30)-6.45P(o)`

Simplify it

`\begin{gathered} Q(d)=325-34+5.251+19.4925+27.375-6.45P(o) \\ Q(d)=343.1185-6.45P(o) \end{gathered}`