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where Qd=quantity of good X demanded, Px=price of good X, I=Income, and Py=price of related good Y. From the demand function, it is apparent that good X is:
I. a normal good
II. an inferior good
III. a substitute for good Y
IV. a complement with good Y
a. II only
b. both I and III
c. both I and IV
d. both II and III
e. both II and IV
It is an inferior good because dQ/dI = -6 <0
It is a substitute good because dQ/dPy>0
If you have any doubt feel free to ask.
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