The inverse demand curve for product X is given by:

PX= 25 - 0.005Q + 0.15PY,

where PXrepresents price in dollars per unit, Q represents rate of sales in pounds per week, and PY represents selling price of another product Y in dollars per unit.The inverse supply curve of product X is given by: PX= 5 + 0.004Q.

21. What is the equilibrium output when PY= $10?

A) 2288.9

B) 2188.9

C) 2388.9

D) 2488.9

22. What is the equilibrium price when PY= $10?

A) 14.56

B) 19.56

C) 11.56

D) 17.56

23. What is the relationship between the two goods, X and Y?

A) The two goods are substitutes

B) The two goods are complements

C) The two goods can be either substitute or complement

D) We don't have sufficient information to answer this question.