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Suppose the demand for good x is ln Q x d = 21 0.8 ln P x 1.6 ln P y + 6.2 ln M
Suppose the demand for good x is ln Qxd = 21 0.8 ln Px 1.6 ln Py + 6.2 ln M + 0.4 ln Ax. Then we know good x is
Multiple Choice
- a normal good.
- an elastic good.
- a Giffen good.
- an inferior good.
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Core Concepts Financial Analysis
Authors: Gary Giroux
1st Edition
047146712X, 9780471467120
