Question: Suppose that the general demand function for good X is Qd = 60 - 2Px + 0.01M + 7Pa Where Qd = quantity of X

Suppose that the general demand function for good X is

Qd = 60 - 2Px + 0.01M + 7Pa

Where Qd = quantity of X demanded

Px = price of X

M = ( average) consumer income

Pr = price of a related good R

Is good X normal or inferior? Explain.

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