l. The demand for arugula is given by the equation; 2: 120 10PA IUPB + 10I Where Q}? is the quantity ofarugula demanded, PA is the price of a package of arugula, PB is the package of burrata, and I is the average consumer income. Notice how this demand function also describes how other factors affect demand namely, the price of another good (burrata) and consumers' income. a. Write the equation for the demand curve when P3 = 2 and I = 3. b. When P3 = 2 and I = 3, what is the equation for the INVERSE demand function? c. When P3 = 2 and I = 3, what is the choke price (the price at which quantity demanded is zero)? d. Graph the demand curve for apples using the inverse demand function found in part b. First label the horizontal axis Q of apples and the vertical axis P ($IQ), Label the demand curve D1. (Hint: It may help to make a demand schedule, starting from Q? = O, or use the slope intercept formula to generate the graph). D Price 15 14 13 12 H OI'NW-bU'lD'iMOOLDO OOOOOO OHNMQ'LI\": FltllIHulul e. Using the demand curve drawn in (d), what is the quantity demanded of arugula when i. PA = 5? ii. PA = 2? iii. This decrease in the price of arugula, all else equal, causes a (circle the correct one) change in demand 1' change in quantity demanded for arugula. f. If the price ofa package of burrata increases to P3 = 4, and the average consumer income remains at l = 3; i. Write an equation for the demand curve; ii. Write an equation for the inverse demand curve: iii. On the above graph, graph and label this demand curve D2. iv. This increase in the price of burrata, all else equal, causes a [circle the correct) change in demand 1' change in quantity demanded for arugula. v. Are arugula and burrata substitutes or complements? How do you know? g. If the average consumer income increases to I = 5 and the price of burrata is the same as the original price, PH : 2i i. Write an equation for the demand curve: ii. Write an equation for the inverse demand curve: iii. On the above graph, graph and label this demand curve D3. iv. This increase in consumer income, all else equal, causes a (circle the correct) change in demand I change in quantity demanded for arugula. v. Is arugula a normal or inferior good? How can you tell