. Suppose an individual has preferences over x and y, and both goods are normal goods for the individual. Demand is homogeneous of degree 0 in prices and income. Which of the following elasticities and expenditure share sä can possibly be true? (a) €x,px = : −0.4, €x,py = 0.2, €x,1 = 1, sx = 0.2, €y,1 = 1 (b) €x,px = = −0.8, €x,py = 1, €x,1 = −0.2, sx = 0.2, €y,1 = 1 (c) €x,px 0.2, €x,1 = 1, Sx = 0.2, €y,I ² = 1 (d) €x,pr (e) None of them = -1.2, €x,py = = : 0.2, €x,py = 0.2, €x,1 = 0.5, 8x = 0.2, €y,1 = 1

. Suppose an individual has preferences over x and y, and both goods are normal goods for the individual. Demand is homogeneous of degree 0 in prices and income. Which of the following elasticities and expenditure share sä can possibly be true? (a) €x,px = : −0.4, €x,py = 0.2, €x,1 = 1, sx = 0.2, €y,1 = 1 (b) €x,px = = −0.8, €x,py = 1, €x,1 = −0.2, sx = 0.2, €y,1 = 1 (c) €x,px 0.2, €x,1 = 1, Sx = 0.2, €y,I ² = 1 (d) €x,pr (e) None of them = -1.2, €x,py = = : 0.2, €x,py = 0.2, €x,1 = 0.5, 8x = 0.2, €y,1 = 1

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter14: Discrete Dynamical Systems

Section14.3: Determining Stability

Problem 1YT

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