Question: I need the graphs and explanations for each question. 3. The demand curve is given by QD=5005PX+0.5I+10PY-2PZ where QB = quantity demanded of good X

I need the graphs and explanations for each question.

3. The demand curve is given by QD=5005PX+0.5I+10PY-2PZ where QB = quantity demanded of good X PX = price of good X I = consumer income, in thousands Pr = price of good Y P; = price of good Z a. Based on the demand curve above, is X a nor- mal or an inferior good? b. Based on the demand curve above, what is the relationship between good X and good i"? 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 1' 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. H the price of goodX is $15, what is the quantity demanded? Show this point on your demand curve. g. Now suppose the price of good i' rises to $15. Graph the new demand curve

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