The demand for good X is given by

QXd = 6,000 - (1/2)PX - PY + 9PZ + (1/10)M

Research shows that the prices of related goods are given by Py = $6,500 and Pz = $100, while the average income of individuals consuming this product is M = $70,000.

a. Indicate whether goods Y and Z are substitutes or complements for good X.

Good Y is: (Click to select)a substituteneither complement nor substitutea complement

Good Z is: (Click to select)neither complement nor substitutea complementa substitute

b. Is X an inferior or a normal good?

Good X is: (Click to select)a normal goodneither a normal nor an inferior goodan inferior good

c. How many units of good X will 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.

Demand function: - PX

Inverse demand function: PX = - QXd

Instruction: Use the tool provided 'D' to graph the inverse demand curve from QX = 0 to QX = 6,000 (two points total).