Suppose That the Extended Market Demand Curve for Maple Syrup

question 96

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) Pancake batter and maple syrup are substitute goods because the partial derivative of the extended market demand with respect to the price of pancake batter is negative.
• B) Pancake batter and maple syrup are substitute goods because the partial derivative of the extended market demand with respect to the price of pancake batter is positive.
• C) Pancake batter and maple syrup are complement goods because the partial derivative of the extended market demand with respect to the price of pancake batter is positive.
• D) Pancake batter and maple syrup are complement goods because the partial derivative of the extended market demand with respect to the price of pancake batter is negative.

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