Please make sure to label all your graphs; vertical and horizontal axis, slope, and intercepts. 1. The demand for blueberries is given by the following equation. QB = 75-5PB + PR + 21 where Q is the quantity of blueberries demanded, Pg is the price of blueberries, PÅ is the price of raspberries, and I is the average consumer income. a. Solve for the inverse demand function of blueberries. Inverse demand function shows a price of blueberries (a function of quantity of blueberries demanded, price of raspberries, and average consumer income). b. Suppose the price of blueberries is PR = 5 and the average consumer income I = 10. Graph the demand curve for blueberries. c. Now the average consumer income I increases to 20. What is the new demand for blueberries? Show the effects of this change on your graph b. d. What happens to the demand for blueberries when the price of raspberries increases? Are blueberries and raspberries complements or substitutes? How do you know?

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