Suppose that x is a normal good and y is an inferior good. The Marshallian demand functions for these goods are denoted by grand gy, respectively. Which of the following statements about cross-price effects can we conclude with certainty? aga (a) >0 дру Əg (b) apy ≤0 ≥0 ≤0 agy (c) ap (d) apr Əgy (e) There is not enough information to conclude any of these statements.

Suppose that x is a normal good and y is an inferior good. The Marshallian demand functions for these goods are denoted by grand gy, respectively. Which of the following statements about cross-price effects can we conclude with certainty? aga (a) >0 дру Əg (b) apy ≤0 ≥0 ≤0 agy (c) ap (d) apr Əgy (e) There is not enough information to conclude any of these statements.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that is a normal good and y is an inferior good. The Marshallian demand
functions for these goods are denoted by 9 and gy, respectively. Which of the following
statements about cross-price effects can we conclude with certainty?
მg1
дру
(a)
>0
Əga
(b) ≤0
дру
Əgy
(c) ap
agy
(d) apx
(e) There is not enough information to conclude any of these statements.
≥0
NI VI
<0

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