Question: Please do fast!! I will rate you good for sure!! Please send me typed answer!! c Assume that a 4 percent increase in income across

Please do fast!! I will rate you good for sure!! Please send me typed answer!!

c Assume that a 4 percent increase in income across the economy

c Assume that a 4 percent increase in income across the economy produces a 6 percent increase in the quantity demanded of good X. The income elasticity of demand is O positive, and therefore X is a normal good O positive, and therefore X is an inferior good O negative, and therefore X is a normal good gative, and therefore X is an inferior good Show Transcribed Text Assume that a 12 percent increase in income across the economy produces a 9 percent decrease in the quantity demanded of good X. The income elasticity of demand is, Onegative, and therefore X is an inferior good Opositive, and therefore X is a normal good O positive, and therefore X is an inferior good O negative, and therefore X is a normal good Show Transcribed Text J c The cross-price elasticity of demand between product X and product Y is -1.2. It can be inferred that X and Y are, O inferior unrelated O complements O substitutes Show Transcribed Text c The cross-price elasticity of demand between product X and product Y is 2. It can be inferred that X and Y are O substitutes Onormal Ounrelated O complements Show Transcribed Text

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