Suppose That the Extended Market Demand Curve for Maple Syrup

question 107

Multiple Choice

Suppose that the extended market demand curve for maple syrup can be expressed as , where P_p is the price of pancake batter and I is income. Which of the following is true for this extended market demand?

• A) Maple syrup is a normal good because the partial derivative of the extended market demand with respect to income is negative.
• B) Maple syrup is a normal good because the partial derivative of the extended market demand with respect to income is positive.
• C) Maple syrup is an inferior good because the partial derivative of the extended market demand with respect to income is negative.
• D) Maple syrup is an inferior good because the partial derivative of the extended market demand with respect to income is positive.

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