The total quantity of USB drives demanded in the Indian market at a price of Rs 500 for a representative 8GB USB drive was 3 million units. When the price of the representative 8GB USB drive decreases to Rs 400 , the total quantity demanded increases to 3.2 million units. Please answer the following questions. a) Draw the demand curve for USB drives using the information given. b) Due to the advent of cloud computing, consumers have started storing files on the cloud drives. How will it change the demand curve? c) Suppose the estimated market demand function for USB drives is: QD,USB=α0 +α 1PUSB+α2P Cloud +α 3P Computer +α 4 Income, where α 0=500000,α1=−2000,α 2=1500,α 3=−5,α 4=70,Q D,USB
​is the quantity demanded of USB drives, PUSB is the price of USB drives, PCloud is the price of 8GB space in a cloud drive, PComputer is the average price of computers, and Income is the per capita income in India. What happens when the price of space in cloud drive falls? Why? d) Suppose, initially, P USB=Rs500,PCloud=Rs100,PComputer =Rs30,000, and Income = Rs 50,000 . Find out the total quantity demanded in the given market condition. e) What happens if price of 8 GB space in the cloud decreases to Rs 50?