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Section B: Long Questions QUESTION B1 (10 marks total) Alex consumes only two goods: chicken and beef (Alex's mother had told him to eat vegetables

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Section B: Long Questions QUESTION B1 (10 marks total) Alex consumes only two goods: chicken and beef (Alex's mother had told him to eat vegetables but he wouldn't). (a) (c) (2 marks each) Recover the numbers in the marked cells in the table below. Show your calculations. Marshallian Hicksian Expenditure Income OwnPrice Own-Price Good Share Elasticity Elasticity Elasticity Chicken 0.4 (a) (b) 2. 1 Beef 0 . 6 2 2 . 6 (c) (d) (2 marks) Is chicken an inferior good? Why or why not? (e) (2 marks) Is chicken a Giffen good? Why or why not

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