The demand for good Xis given by Qxd = 6,000 [i.-'2}Px PY + QPZ + [i.-'10)M Research shows thatthe prices of related goods are given by Py= $6.500 and P2: $100, while the average income of individuals consuming this product is M: $70,000. a. Indicate whether goods Y and Zare substitutes or complements for good X. Good Y is: a complement v . Good Z is: a substitute V . b. Is Xan inferior or a normal good? Good X is - c. How many units of good Xwill be purchased when PX: $5,230? d. Determine the demand function and inverse demand function for good X. Graph the demand curve for good X. Instruction: Enter all values as integers, or if needed, a decimal rounded to one decimal place. Demand function: - PX Inverse demand function: PK 2 14.800 | 2| Qxd Instruction: Use the tool provided '0' to graph the inverse demand curve from Ox = 0 to Q): = 6000 (two points total}. KT". |_ I _| Inverse Demand Function 16000 . D 14000 coordinates: 12000 W = y 1 T400 14800 Price of )L. m Cl D D D D (:3 D 0000 4000 SAVE 2000 2000 4000 6000 8000