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Business, 25.11.2021 05:10 23jazzy

Suggest the appropriate functional forms for the relationships between the following variables, and explain your reasoning, keeping in mind the economic theory behind the various relationships: a. The number of books a person owns as a function of the person's income
b. The amount of money a person spends on books as a function of the person's income
c. The price of a car as a function of the year it was made
d. The price of a pound of chicken as a function of the price of a pound of beef

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