In the 1940s the quantity, q, of beer sold each year in Britain was found to depend on I
Chapter 8, Problem 21(choose chapter or problem)
In the 1940s the quantity, q, of beer sold each year in Britain was found to depend on I (the aggregate personal income, adjusted for taxes and inflation), p1 (the average price of beer), and p2 (the average price of all other goods and services). Would you expect q/I, q/p1, q/p2 to be positive or negative? Give reasons for your answers.
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