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For this demand equation

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Suppose Qxd = 10,000 - 2 Px + 3 Py - 4.5M, where Px = $100, Py = $50, and M = $2,000.

Use this information to answer the following three parts of question 6.

a. For this demand equation, what is the P intercept? 

b. For this demand equation, what is the Q intercept?

c. Is Good X normal good or an inferior good?

d. If M changes to $1500, how much does Qd of X change? 

e. Are Good X and Good Y substitutes or complements? How do you know?

Reference no: EM131948912

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