Consider the following statements about the income-compensated demand curve(CDC) and theuncompensated demand curve(UDC):

1. When economists talk about 'standard' demand curves without specifying whether they are making reference to CDCs or UDCs, they are typically referring toUDCs.

1. For a normal good, the CDC is steeper than the UDC.

1. The magnitude of the difference in slope between the CDC and UDC depends on the magnitude of the substitution effect.

1. The magnitude of the difference in slope between the CDC and UDC depends on the magnitude of the income effect.

A witness testifies that the taxicab that struck and injured Smith in a dark alley was green. There are three taxi companies in town: Green, Blue and White. On investigation, the attorney for Green Taxi Company discovers that a random sample of people can correctly distinguish Blue and Green taxis from one another80% of the time (people can always correctly distinguish White taxis). Green operates 20% of all local taxis, while Blue and White each operate 40%. Based on the witness' testimony, what is the probability that the cab which struck Smith was actually green?(Round your answer to the nearest 10%.)