g l 4. Three consumers have utility function 3313 1133. Their incomes are m1 = 30, m2 = 60,7713 2 90,m4 = 120. A. Are
g l 4. Three consumers have utility function 3313 1133. Their incomes are m1 = 30, m2 = 60,7713 2 90,m4 = 120. A. Are these preferences homothetic? B. What is the market demand for 2121? C. What is the market elasticity of demand for 331? Is the market demand elastic, inelastic, or unit elastic? D. What is the crossprice elasticity between 3:1 and p2
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