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f the features of this document's format. Some content might be missing or displayed improperly. 1 The demand for organic carrots is given by the following equation: 20 = 75-5Pp + Pc +21 where to is the price of organic carrots, c is the price of conventional carrots, and / is the average consumer income. Notice how this isn't a standard demand curve that just relates the quantity of organic carrots demanded to the price of organic carrots. This demand function also describes how other factors affect demand - namely, the price of another good (conventional carrots) and income. . Graph the inverse demand curve for organic carrots when Pc - 5 and I = 10. What is the choke price? . Using the demand curve drawn in (a), what is the quantity demanded of organic carrots when Po = 5? When Po = 10? Suppose Pc increases to 15, while / remains at 10. Calculate the quantity demanded of organic carrots. Show the effects of this change on your graph and indicate the choke price. Has there been a change in the demand for organic carrots, or a change in the quantity demanded of organic carrots? . What happens to the demand for organic carrots when the price of conventional carrots increases? Are organic and conventional carrots complements or substitutes? How do you know? . What happens to the demand for organic carrots when the average consumer's income increases? Are carrots a normal or an inferior good