Calculate the following elasticities and classify good x
Calculate the following elasticities and classify good x. The market situation is as follows: m=$100, Px=Py=$10
1. X*=(12/Px)-(Py/m)
a. elasticity of Px
b. elasticity of Py
c. elasticity of m
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for a normal good the income and substitution effectsa work togetherb work against each otherc can work together or in
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