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A consumer's Marshallian demand for y is given by gy (pmpy, I) 2 pi 3. The price of good 3; is y pg 2 4
A consumer's Marshallian demand for y is given by gy (pmpy, I) 2 pi 3. The price of good 3; is y pg 2 4 and the consumer's income is I = 15. What is eymy' the consumer's own price elasticity of demand for y? C) -1S/16 0 -5/12 0 -1 o -5 Q -15 Question 8 3.5 pts Suppose that x is a normal good and y is an inferior good. The Marshallian demand functions for these goods are denoted by gm and gy, respectively. Which of the following statements about cross-price effects can we conclude with certainty
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