_I I The demand for premium quality bananas in the Republic of Monkey is given by the following equation: (2,, = 85 - lOPb + PC + 31, where P13 is the price of premium quality bananas, P\" is the price common quality bananas, the one preferred by poor monkeys, and I is the average income for citizens of the Republic of Monkey. Answer the following questions and show your work. (a) Draw the demand curve for premium bananas when Pc = 6 and I = 15. Label your diagram completely in order to get full credit. Show the demand intercept and the choke demand price. Use a ruler to draw the diagram and do not use double columns. (b) Using the diagram drawn above in (a), what is the quantity demanded (QD) of premium quality bananas when P13 = 6? Draw a diagram to illustrate your answer. (0) Using the demand curve drawn above in (a), what is the quantity demanded of premium quality bananas when P13 = 2? Draw a diagram to illustrate your answer. (d) Suppose that Pb = 6, Pc = 18, and I = 15. What is the quantity demanded of premium quality bananas? Draw a diagram to illustrate your answer. (e) Compare the answer that you obtained in (b) above with the answer that you just obtained in (e). Has there been a change in demand or quantity demanded. Demonstrate your answer using a graph