The demand for your product has been estimated to be Q^d_x = 7,880 - 4P_x - 2P_y + P_z - 0.1M.The relevant price and income data are as follows:
P_x = 10,P_y = 15,P_z = 50,M = 40,000.
a.Which goods are substitutes for X?
Which are complements?
b.Is X an inferior or a normal good?
c.How much X will be purchased?
d.Graph the demand curve for X given the above information.
e.How will the demand curve change if M falls to 35,000?

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The Answer of The demand for your product has been estimated to be Q^d_x = 7,880 - 4P_x - 2P_y + P_z - 0.1M.The relevant price and income data are as follows: P_x = 10,P_y = 15,P_z = 50,M = 40,000. a.Which goods are substitutes for X? Which are complements? b.Is X an inferior or a normal good? c.How much X will be purchased? d.Graph the demand curve for X given the above information. e.How will the demand curve change if M falls to 35,000?

The Demand for Your Product Has Been Estimated to Be