Even Property of Cosine a. Show that cos (54) = cos 54.b. You can write cos (54) as cos (0 54).Use the composite argument property toshow algebraically that cos ( ) = cos .f(x) = f(x) are called even functions. Showwhy this name is picked by letting f(x) = x6and showing that f(x) = f(x).

Week 6 Notes Income Elasticity of Demand (ε ) I D Measures how responsive Q is to changes in income 2 types of goods o Normal good: ε>0I(when income increases, you buy more of this) o Inferior good: εI0 Cross price elasticity of demand (E )DP o Measures how responsive Q is of good 1 to changes in price of good 2 o o Relationship between the pair of goods Substitutes E XP Compliments E <0XP Application: Do consumers bear more of the burden of a tax them producers o Tax incidence: the study of who bears the burden of the tax o A tax raises the price consumers pay for a