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6, Let D(p,q) and E(p, q) be the demands for two commodities when the prices per unit are p and q, respectively. Suppose the commodities are substitutes in consumption, such as butter and margarine. What are the normal signs of the partial derivatives of D and E with respect to p and q? Explain.

6, Let D(p,q) and E(p, q) be the demands for two commodities when the prices per unit are p and q, respectively. Suppose the commodities are substitutes in consumption, such as butter and margarine. What are the normal signs of the partial derivatives of D and E with respect to p and q? Explain.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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6, Let D(p,q) and E(p, q) be the demands for two commodities when the prices per unit are p and q, respectively. Suppose the commodities are substitutes in consumption, such as butter and margarine. What are the normal signs of the partial derivatives of D and E with respect to p and q? Explain.
Transcribed Image Text:6, Let D(p,q) and E(p, q) be the demands for two commodities when the prices per unit are p and q, respectively. Suppose the commodities are substitutes in consumption, such as butter and margarine. What are the normal signs of the partial derivatives of D and E with respect to p and q? Explain.
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