8. Suppose that the market demand curve for syrup is QD = 1200 -0.5P - 9P; - 0.01Y + 0.55, where P, is the price of batter, Y is income and $ is the amount of snowfall outside. According to this function, a. pancake batter is a substitute and maple syrup is normal b. pancake batter is a complement and maple syrup is normal C. pancake batter is a substitute and maple syrup is inferior d. pancake batter is a complement and maple syrup is inferior e. pancake batter is an inferior good and maple syrup is a complement 9. The demand curve for a good is Q = 80-12P, where Q is the quantity demanded and P is the price per unit. This price elasticity of demand at a price of $5 is E = 10 Quantity of Good 2 IC4 IC3 IC2 IC1 Quantity of Good 1 10. Which of the following utility function represents the preferences for the indifference curves drawn above? a. U(q1,q2)=min{2q1,q2} b. U(q1,q2)=min{q1,q2} . U(q1,q2)=min{q1,2q2} d. U(q:,q2)= 2q1+92 e. U(q1,q2)= q1+2q2 11. (2 points) Continuing with the example above, if p1=10, pz=5, and y=100, find the optimal consumption bundle: 91 = q2 =