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3. Consider a 2-good economy. A consumer allocates 60% of his budget to good 1. 3M 3 P 1 \"W: The ordinary demand curve for good 1 is x1 = , where p1 is the price of good 1, p2 is the price of good 2, and M is the consumer's income. Which of the following is always true? a. Good 1 is a luxury good. b. Income elasticity of good 2 is 1. c. Consumer's preferences are not homothetic. d . None of the above