Consider the following demand curve for apples Demand: Price =42+2*1-2*9 With Excel plot the demand curve for apples when income (1) is 4.

Suppose the following table describes Anns’s weekly chocolate candies purchases, which vary depending on the price of a bags of candies: Price of chocolate candies ($) Bags  of chocolate candies Chewing gum Apple pie cake Milk pack 2 4 3 2 3 2,5 2 3 4 2     Compute the cross price elasticity of chewing gum  with respect to the price of a bag of chocolate candies. Compute the cross price elasticity of apple pie cake with respect to the price of a bag of chocolate candies. Compute the cross price elasticity of milk pack with respect to the price of a bag of chocolate candies. Are  chocolate candies  and chewing gum substitutes or complements? How do you know? Are of chocolate candies and apple pie substitutes or complements? How do you know? Are of chocolate candies  and milk substitutes or complements? How do you know?

really need detailed solution with steps and graphs. will leave a like if it helps!

Price (dollars per can) 2.50 2.00 1.50 1.00 0.50 D 2 3 4 Quantity (cans of soda per day) The graph illustrates the demand curve for soda. After a rise in the price of a soda From $1.00 a can to $2.00 a can, the quantity of soda demanded A) decreases from 1 can to 0 cans a day. B) remains unchanged. C) increases from 0 cans to 2 cans a day. D) decreases from 2 cans to 0 cans a day.

Suppose that the price of ice cream at your local cafeteria is €1.50 per scoop and 600 scoops per day are sold. Now, assume that at the same cafeteria, the price of frozen yogurt increases €1.25 to €1.75 per scoop. While nothing else has changed that could affect customers’ buying patterns, the sale of ice cream increased from 600 to 750 scoops per day.   Calculate the cross elasticity of demand of ice cream relative to frozen yogurt.       Are ice cream and frozen yogurt complements or substitutes? Explain your answer with the elasticity concept.

I have solved the equations for X, Y and Z.  I need help with the questions on the second page.

Exercise 1. The demand for your product X has been estimated to be QX = 7, 880 − 4PX − 2PY + PZ − 0.1M where Y and Z are other (related) products. The relevant price and income data are asfollows: PX = 10, PY = 15, PZ = 50, M = 40, 000 b. Is X an inferior or a normal good? d. Graph the demand curve for X given the above information.e. How will the demand curve change if M falls to 35, 000? Is that in line with b.?

3. Determinants of demand The following graph shows the demand curve for sedans (for example, Toyota Camrys or Honda Accords) in New York City. For simplicity, assume that all sedans are identical and sell for the same price. Initially, the graph shows market demand under the following circumstances: Average household income is $50,000 per year, the price of a subway ride is $2.00 per ride. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Demand for Sedans Demand for Sedans 40 I Price of a sedan (Thousand of dollars) 20 Quantity Demanded 450 30 (Sedans per month) Demand Shifters Average Income (Thousands of dollars) 50 Demand 10 Price of Subway (Dollars per ride) 2 100 200 300 400 500 600 700 800 900 QUANTITY (Sedans per month) PRICE (Thousands of dollars per…

Consider the same apple-juice market. Suppose now, the demand curve a liter of apple-juice is given by: P = 107 - 5QD. i. Calculate the price elasticity of demand of apple-juice when price rises from 55 to 80. Give your answer in two decimal places. After the price rise, the income of a person goes up from 31033 to 46187. The new demand curve is P = 132 - 5QD. ii. Calculate the income elasticity of demand. Give your answer in two decimal places. iii. Due to this increase income, has demand become more or less elastic? More elastic Less elastic Income and demand elasticity are not related Not enough information given   iv. If the increase in income (and the subsequent shift of the demand curve) had occurred before the rise in price, what would the YED be? Give your answer in two decimal places.

Suppose when a person’s income increases, his or her demand for mac and cheese decreases. What is the relationship between mac and cheese and income? Mac and cheese are Substitutes Mac and cheese are a Normal good Mac and cheese are an Inferior good Mac and cheese are unaffected by changes in income