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Use the Following General Linear Demand Relation: Where P

Question 30

Multiple Choice

Use the following general linear demand relation: Use the following general linear demand relation:   where P is the price of good X,M is income,and   is the price of a related good,R.From the demand function it is apparent that related good R is A) normal. B) inferior. C) a substitute for good X . D) a complement for good X. where P is the price of good X,M is income,and Use the following general linear demand relation:   where P is the price of good X,M is income,and   is the price of a related good,R.From the demand function it is apparent that related good R is A) normal. B) inferior. C) a substitute for good X . D) a complement for good X. is the price of a related good,R.From the demand function it is apparent that related good R is


A) normal.
B) inferior.
C) a substitute for good X .
D) a complement for good X.

Correct Answer:

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