Question 3 Here are some demand functions. For each, answer the following (assuming 3 is a constant between 0 and 1). (Hint: if the parameter of interest (income, the other good's price, etc.) does not appear in the function, What is the relevant partial derivative?) i. What is the income elasticity of demand? Is the good normal, inferior, or neutral? ii. What is the ownprice elasticity of demand? Is the good a \"Law of Demand\" good or Giffen good? iii. What is the crossprice elasticity of demand? Is the good a (gross) substitute or complement with regard to the other good? a) 33139151022\" : 131:.2132 b) 531091210219): 53% \fC) 3(papbiy) : i _% CL Question 4 Suppose that we have two goods :31 and .122 that exhibit wellbehaved preferences (that is IC have a regular diminishing marginal rate of substitution shape); and that $2 is a normal good. Also suppose that the price of :01 increases. Illustrate the substitution and income effects in the following cases: a) :31 is a normal good b) 331 is a plain old regular inferior good 0) m1 is a Gien good