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## Order the answer to: The demand curve is given by QD = 500 –

Paper help business-economics Order the answer to: The demand curve is given by QD = 500 –

# Order the answer to: The demand curve is given by QD = 500 –

Question The demand curve is given by QD = 500 – 5PX + 0.51 + 10PY – 2PZ 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 F? 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 \$30,000, the price of good F is \$10, and the price of good Z is \$20? e. Graph the demand curve that you found in (d), showing intercepts and slope. f. If the price of good X is \$15, what is the quantity demanded? Show this point on your demand curve. g. Now suppose the price of good Y rises to \$15 Graph the new demand curve. business-economics
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