The demand curve is given by: QD= 500- 5Px+ 0.5I + 10Py

The demand curve is given by: QD= 500- 5Px+ 0.5I + 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 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 customer incomes are $30000 the price of Y is $10.00 and the price of good Z is $20.00 e) Graph the demand curve that you found in (d) showing intercepts and slope. (f) if the price of good X is 15.00 what is the quantity demand? Show this point on your demand curve. (g) Now suppose the price of good Y rises to 15.00. Graph the new demand curve.
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