Essay
Suppose that the extended market demand curve for maple syrup can be expressed as 
, where Pp is the price of pancake batter and I is income.
a. Use calculus to argue whether pancake batter is a substitute for or complement to maple syrup.
b. Use calculus to argue whether maple syrup is a normal or an inferior good.
Correct Answer:
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Suggested Answer:
a. Since 
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Correct Answer:
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a. Since
, ...View Answer
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