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The X- Corporation produces a good

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The X- Corporation produces a good called (called the X) that is a normal good. Its competitor produces a substitute that is marketed under the name ?Y? Good ?Y? is an inferior product.;a How will the demand for good X change if consumer incomes increase?;b How will the demand for good Y change if consumer incomes decrease?;c How will the demand for good X change if the price of good Y decreases?;d Is good Y a lower-quality product than good X? Explain.

 

Paper#26257 | Written in 18-Jul-2015

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