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Unformatted text preview: increase in good X. What kind of good is X? A. Inferior. B. Normal. C. Necessity. D. A and C. E. B and C. Quiz Econ 100A, fall2010, lecture 6 slide# 5 Question 4: Cobb-Douglas preferences are represented by the utility function . The demand functions for the two goods are = and = . What are the cross-price elasticities of demand for these two goods? A. and respectively. B. and respectively. C. Zero for both goods. D. The answer cannot be determined without additional information...
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- Fall '08