1. The market demand for potatoes is given by Q=1000 +0.31-300P+299P' where Q = annual demand in pounds; I = average income in dollars per year; P = price of potatoes in cents per pound; P' =price of rice in cents per pound. Assume potatoes to be a normal good here. (@) Suppose I = $10,000 and P' = $0.25; what would be the market demand for potatoes? At what price would Q = 0? (b) Suppose now I= $20,000 and P' stays at $0.25. Now what would the market demand for potatoes be? Again, at what price would Q = 0? (@) If I returns to $10,000 but P' falls to $0.10, what would the demand for potatoes be? At what price would Q = 0? (d) Graph the demand curve corresponding to the cases in (a), (b), (c). (4x2.5 = 10 points)