1. Q4: what does it mean by the goods has the symmetry property, why it is neither gross sub and gross complement?
2. Q5: For I, is that the own-price elasticity ex,px is always negative for both normal and inferior good?

4. Suppose that the utility function is U(x, y) = x 1/3 + y 1/3 the x and y are Hint: in this particular example, the gross complementarity or substitution among goods has the symmetry property. (a) Net complements and gross substitutes (b) Net complements and gross complements (c) Net substitutes and gross substitutes (d) Net substitutes and neither gross substitutes nor gross complements

5. Suppose Norah consumes only two goods, x and y. Which of the following statements MUST be true? I If the price of x increases keeping income and price of y fixed, she will consume more of x if x is inferior good. II If the price of x increases keeping income and price of y fixed, she will consume more of y if y is an inferior good. III If the price of y increases keeping income and price of x fixed, she will consume less of y if y is normal good. (a) I and II (b) II and III (c) only III (d) None of the options are correct