Business, 06.08.2019 18:10 Shiey0409

Qd=8000-2px+0.4i-2py+5pz where qd = quantity demanded of good x px = price of good x i = consumer income, in thousands py = price of good y pz = price of good z a. based on the demand curve above, is x a normal or an inferior good? b. based on the demand curve above, what is the relationship between good x and good y? c. based on the demand curve above, what is the relationship between good x and good z? d. what is the equation of the demand curve if consumer incomes are $75,000, the price of good y is $80, and the price of good z is $105? e. what are the intercepts and slope of your demand curve? you do not need to draw the demand curve. just indicate the price intercept and the quantity intercept and the slope. f. if the price of good x is $100, what is the quantity demanded? g. now suppose the price of good z rises to $150. what would happen to your demand curve? what are the price intercept, quantity intercept and slope?

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