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Good shift the demand curve of a good

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Consider a market with demand function QD = 150 - 2P + PR, where PR is the price of a related good.

a.) How does an increase in the price of a related good shift the demand curve of a good?
b.) On one graph, draw the demand function above when PR = 20 and label it D20. Make sure axes and intercepts are labeled.
c.) On the same graph, draw the demand function above when PR = 30 and label it D30. Make sure axes and intercepts are labeled.
d.) WhatisthequantitydemandedwhenP =35andPR =20? WhenP =35andPR =30?
e.) What does your graph tell you about the relationship between the two goods?

Reference no: EM132789813

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