Use the Following Definitions for an Individual Who Consumes Only

Multiple Choice

Use the following definitions for an individual who consumes only two goods,x and y:
s_x = share of income spent on x.
s_y = 1-s_x.​ = price elasticity of demand for x.​ = price elasticity of demand for y.
​e_x,I = income elasticity of demand for x.
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e_y,I = income elasticity of demand for y.​ = cross price elasticity of demand for x.​ = cross price elasticity of demand for y.
-A generalization of Engel's Law is given by:

A)
B)
C)
D)