Question: Suppose that your analyst estimates the demand equation for good X as given below: = 12 2 + 2 Good X sells for $2 per
Suppose that your analyst estimates the demand equation for good X as given below: = 12 2 + 2 Good X sells for $2 per unit, good Y sells for $1 per unit, good Z sells for $1 per unit, and consumer income is $5.
Please indicate whether good Y and Z are complements or substitutes and include in your response whether you think it is possible for a single good to have multiple complements or substitutes. If you answer yes to this question, please provide a real-world scenario in which this situation would hold.
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