If the Hicksian and Marshallian demand curves for a good intersect, at

If the Hicksian and Marshallian demand curves for a good intersect, at that point a change in the own-price will generate a larger change of the quantity demanded in

a. The Hicksian demand curve if the good is a normal good.

b. The Marshallian demand curve if the good is a normal good.

c. The Marshallian demand curve if the good is an inferior good.

d. The two demand curve will change by the same amount if the good is normal.

The Marshallian demand functions are “homogeneous of degree zero in all prices and income.” This means

a. A doubling of all prices will not alter consumption decisions.

b. A proportional increase in all prices and income will leave quantities demanded unchanged.

c. Prices directly enter individuals’ utility functions.

d. An increase in income will cause all quantities demanded to increase proportionately.

Suppose Justin has the utility over two goods 𝑋 and 𝑌 as 𝑈(𝑋,𝑌)=𝑚𝑖𝑛{3𝑋,5𝑌}. Then, goods 𝑋 and 𝑌 are

a. net substitutes

b. net complements

c. gross complements and neither net substitute nor net complements

d. gross substitutes and neither net substitute nor net complements

e. both gross substitutes and net substitutes