The weekly demand for sobolo among the 2017 cohort of BSc Admin students at the UGBS is Qdx =50-4PX +0.5I +10Py -2Pz Where Qd x is the quantity demanded for sobolo PX is the price of sobolo per 1bottle I is the income of consumers in Ghana cedis Py and Pz are the prices of two goods that are related to sobolo a. Based on the demand function above, is sobolo a normal good or inferior good? Explain your answer. b. Based on the demand function above , what is the relationship between sobolo and good Y c. Based on the demand function above , what is the relationship between sobolo and good Z d. What is the equation of the demand for sobolo if consumer incomes areGHS30, the price of good Y is GHS 10 and the price of good Z is GHS 20? e. Graph the demand function for sobolo from d)
The weekly
is
Qdx =50-4PX +0.5I +10Py -2Pz
Where Qd
x is the quantity demanded for sobolo
PX is the
I is the income of consumers in Ghana cedis
Py and Pz are the prices of two goods that are related to sobolo
a. Based on the demand function above, is sobolo a normal good or inferior good? Explain
your answer.
b. Based on the demand function above , what is the relationship between sobolo and good
Y
c. Based on the demand function above , what is the relationship between sobolo and good
Z
d. What is the equation of the demand for sobolo if consumer incomes areGHS30, the price
of good Y is GHS 10 and the price of good Z is GHS 20?
e. Graph the demand function for sobolo from d)
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