Consider a consumer’s demand function for a small window air conditioner:

P = 100 − 2Q.

(a) If this consumer is willing to pay $96.00 a piece, how many units would he or she buy?

(b) If at the store the consumer finds this item on sale for $82.00, how many units would he or she buy?

(c) How would these scenarios be depicted on a graph?

(d) Calculate the arc price elasticity of demand for this item.