Question #2 The demand curve for beef is given by the following equation: QB = 0.03 x1 3P3 + ZPC QB Amount of beef demanded PB Price per 1 K.G. of bee PC Price per 1 K.G. of chicken 1- income level in Shekels Suppose that PC = 5 and I = 2000. Describe and outline the demand curve for beef. Compute the demand for beef (QB) if 1 K.G. beef is sold at 8. Now suppose that the price of beef soared to 14 per 1 kg. iv Compute the demand for beef iiv Was that a move of the curve or on the curve? . Now suppose that the price of beef is 8 per 1 kg, but the price of chicken is 10 per kg. iv compute the demand for beef iiv Was that a move of the curve or on the curve? According to the behavior of the demand, is chicken a substitute for beef? Complementary product? Why? Now, let's assume that the consumer's income increased to 3,000. Assume that the price of chicken has returned to NIS 5 per kilogram. i. . What is the demanded amount of beef? iiv Was it a change in the demand curve? iiiv Is beef a normal or interior product? Explanation and graphic description