economics problems

32 a. Orange juice and apple juice are known to be perfect Substitutes. Draw the appropriate pricecowamption curve (For a variabfe price oF orange juice) and incomecowamption curve (a. LeFt shoes and right slaoes are perFect complements. Draw the appropriate priceconsumption and incomeconsumption curves. 34. Judy has decided to allocate exactly $500 to college textbooks everg gear) even though sine knows that tine prices are likely to increase log 5 to 10 percent per gear and that slne will be getting a substantial monetarg gilt From her grandparents next year. What is Jadg's price elasticity ol' demand For textbooks? income elasticity? \f353. You run a smaii business and wouid iike to predict what wiii happen to the quantity demanded For your product it" you raise your price. Whiie you do not know the exact demand curve For your Product, you do know that in the First year you charged $45 and soid 1200 units and that in the second year you charged $50 and said 1300 units. a. [F you pian to raise your price by 10 percent, what wouid be a reasonabie estimate oF what wifi happen to quantity demanded in percentage terms? b. iF you raise your price by 10 percent} wiff revenue increase or decrease?