Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy
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Question:
Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy + aMY. If aM is negative, then good y is: (ax, ay, and aM are parameters, while Y is income.)
A. a normal good B. an inferior good. C. a complement. D. a substitute.
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