Using calculus, show that not all goods can be inferior. (Hint: start with the identity that Y=P₁91 +P292+...+PN9N-) dq₁ da2 dan +...+PN dy = P1 dy +P2 dy Note that dY dy OA. Although OB. Because OC. Although OD. Because OE. Because ㅎㅎ ㅎ ㅎㅎ ㅎ ㅎㅎㅎ dy dY dY dY dy dy = 1, at least one can be negative, which means at least one good, good i, is not inferior. dy dq₁ dq dY = 0, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, can be negative, which means at least one good, good i, is not inferior. da dy = 1, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, must be positive, which means at least one good, good i, is not inferior.
Using calculus, show that not all goods can be inferior. (Hint: start with the identity that Y=P₁91 +P292+...+PN9N-) dq₁ da2 dan +...+PN dy = P1 dy +P2 dy Note that dY dy OA. Although OB. Because OC. Although OD. Because OE. Because ㅎㅎ ㅎ ㅎㅎ ㅎ ㅎㅎㅎ dy dY dY dY dy dy = 1, at least one can be negative, which means at least one good, good i, is not inferior. dy dq₁ dq dY = 0, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, can be negative, which means at least one good, good i, is not inferior. da dy = 1, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, must be positive, which means at least one good, good i, is not inferior.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 18RQ: What are four responses to the claim that people should not behave in the way described in this...
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