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Suppose an individual has preferences over x and y, and both goods are normal goods for the individual. Demand is homogeneous of degree 0 in

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Suppose an individual has preferences over x and y, and both goods are normal goods for the individual. Demand is homogeneous of degree 0 in prices and income. Which of the following elasticities and expenditure share S, can possibly be true? O a. Ex,py = -0.4, Ex,py = 0.2, Ex,I = 1, Sx = 0.2, Ey,I = 1 O b. Ex,py = -0.8, Ex,py = 1, Ex,I = -0.2, Sx = 0.2, Ey,I = 1 O C. Ex,py = -1.2, Ex,py = 0.2, Ex,I = 1, Sx = 0.2, Ey,I = 1 O d. Ex,py = 0.2, Ex,py = 0.2, Ex,I = 0.5, Sx = 0.2, Ey,I = 1

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