Question: If demand for pork is given by: QD = 200 - 6P + 2Y, when the price of pork is 8, a rise in consumers'
If demand for pork is given by: QD = 200 - 6P + 2Y, when the price of pork is 8, a rise in consumers' income from 100 to 150 leads to:
a. a fall in demand and an income elasticity of -0.14, pork is an inferior good
b. a rise in demand and an income elasticity of 0.14, pork is a normal good and a necessity
c. a rise in demand and an income elasticity of 7.08, pork is a luxury good
d. a fall in demand and an income elasticity of -7.08, pork is an inferior good.
(I am confused with the meaning of "2Y")
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