Given the following demand function Qdx=500-0.5Px+2Py+5Pz+0.1M and thatPy= $300, Pz= $100 and M= $50
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Given the following demand function Qdx=500-0.5Px+2Py+5Pz+0.1M and thatPy= $300, Pz= $100 and M= $50,000, answer thefollowing questions. 2.1 Indicate whether good Y and Z are substitutes or complementsfor good X. 2..2 Is X an inferior or normal good? 2.3 Determine the demand and inverse demand functions for X.Graph the inverse demand function for X. . . .
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