Question: Suppose the demand for DVD players (good X) is given by Qd = 1200-1/2Px+1/4Py-8Pz+1/10M Are goods Y and Z substitutes or complements of good x?

Suppose the demand for DVD players (good X) is given by
Qd = 1200-1/2Px+1/4Py-8Pz+1/10M
Are goods Y and Z substitutes or complements of good x? Is good X an inferior or normal good? What is quantity demanded of good X, if research shows that Px= 500, Py= 400, Pz= 10, M=10000? Determine the demand function and the inverse demand function for good X. Draw the Demand Curve. If the price level is $3440, what is the consumer surplus? (Please explain each step!)

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