Suppose that the extended market demand curve for maple syrup can be expressed as , where P_p is the price of pancake batter and I is income. Which of the following is true for this extended market demand? A) Maple syrup is a normal good because the partial derivative of the extended market demand with respect to income is negative. B) Maple syrup is a normal good because the partial derivative of the extended market demand with respect to income is positive. C) Maple syrup is an inferior good because the partial derivative of the extended market demand with respect to income is negative. D) Maple syrup is an inferior good because the partial derivative of the extended market demand with respect to income is positive.

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The Answer of Suppose that the extended market demand curve for maple syrup can be expressed as , where P_p is the price of pancake batter and I is income. Which of the following is true for this extended market demand? A) Maple syrup is a normal good because the partial derivative of the extended market demand with respect to income is negative. B) Maple syrup is a normal good because the partial derivative of the extended market demand with respect to income is positive. C) Maple syrup is an inferior good because the partial derivative of the extended market demand with respect to income is negative. D) Maple syrup is an inferior good because the partial derivative of the extended market demand with respect to income is positive.

Suppose That the Extended Market Demand Curve for Maple Syrup