(Answered) Judys marshallian demand for oranges is i05panbsp 306nbsppo

Management Studies

Judy's Marshallian demand for oranges is {I^0.5(p_a + 3)^0.6}/p_o, where p_a is the price of apples, p_o is the price of oranges, and I is Judy's income. Suppose I = 100, p_a = 2, and p_o = 3.

Find and interpret the income elasticity for the demand for oranges. Are oranges an inferior or normal good?

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