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2. lConsider the following market demand curve for automobiles: QB = 300 10F + HIP,1 5P5 + .EI where P is the own price of

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2. lConsider the following market demand curve for automobiles: QB = 300 10F + HIP,1 5P5 + .EI where P is the \"own\" price of the good, Pa and H, are the prices of other goods, and I is a measure of average household income. Suppose P = 10, R1 = 4, 135 = 8 and I = 40, which implies that QB = 30010-10+5-45-8+.5-4U=200. {a} 1What is the ownprice elasticitjir of demand? (b) Is good a a. substitute or a complement? If this is the demand for auto mobiles, give examples of what good a might be? (c) Is good i} a substitute or a. complement? If this is the demand for auto mobiles, give examples of what good i) might be? (d) Does the equation impl}r that automobiles are a normal good, or an inferior good

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