The estimated demand for a good is Q=25-5P +0.32M+12P where Q is the quantity demanded of the good , Pr is the price of the good, M is income, and Pr is the price of related good R.
The coefficient on P is?
The good is?
This good and related good R are?
If income decreases by $1000, all else constant, quantity demanded will_______ by __________
If the price of the good falls by $4, the quantity demanded will_____ by _______units.