Question: Q x d = 6 , 0 0 0 - ( 1 2 ) P x - P Y + 9 P Z + (
Research shows that the prices of related goods are given by $ and $ while the average income of individuals consuming this product is $
a Indicate whether goods and are substitutes or complements for good
Good is:
Good Z is:
b Is an inferior or a normal good?
Good X is:
c How many units of good will be purchased when $
d Determine the demand function and inverse demand function for good Graph the demand curve for good
Instruction: Enter all values as integers, or if needed, a decimal rounded to one decimal place.
Demandfunction:
Inverse demand function:
Instruction: Use the tool provided to graph the inverse demand curve from to two points total
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