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Explain clearly.. The Marshallian demand for good x and y is given by x ( Px, Py, M) and y (Px, Py, M), respectively. Calculate

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Explain clearly..

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The Marshallian demand for good x and y is given by x ( Px, Py, M) and y (Px, Py, M), respectively. Calculate the income elasticity of good x. Is good x income elastic? Unitary? inelastic?. A. 1, income elastic B. -1, income unitary C. 1, income inelastic D. -1, income is perfectly inelastic

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