(8th edition) (the pearson series in economics) robert pindyck, daniel rubinfeld microecon 172
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CHAPTER 4 • Individual and Market Demand 147
relatively few copies of Linux on sale at local stores. Vera
chooses Windows. Can you explain her decision?
15. Suppose that you are the consultant to an agricultural cooperative that is deciding whether members
should cut their production of cotton in half next year.
The cooperative wants your advice as to whether this
action will increase members’ revenues. Knowing that
cotton (C) and soybeans (S) both compete for agricultural land in the South, you estimate the demand for
cotton to be C = 3.5 - 1.0PC + 0.25PS + 0.50I, where PC
is the price of cotton, PS the price of soybeans, and I
income. Should you support or oppose the plan? Is
there any additional information that would help you
to provide a definitive answer?
