question archive Copy of The demand function for good 1 is given by 01 = 401- 3021/2 where p1 is the price of good 1, p2 is the price of good 2, and y is income
Copy of The demand function for good 1 is given by 01 = 401- 3021/2 where p1 is the price of good 1, p2 is the price of good 2, and y is income
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Copy of The demand function for good 1 is given by 01 = 401- 3021/2 where p1 is the price of good 1, p2 is the price of good 2, and y is income. i. are goods 1 and 2 complements or substitutes? ii. what is the income elasticity of demand for good 1?
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