Question: 2. Suppose a linear demand function is given by Q= A + BP, where b < 0. The following graph shows the demand for books,

2. Suppose a linear demand function is given by Q= A + BP, where b < 0. The following graph shows the demand for books, whichQ = 10 - P in this case.

  1. Complete the following table below:
Point Quantity (Books per day) Price (Dollars per book) b Point Elasticity Elastic, Inelastic or unit elastic
A 3 7
B 5 5
C 8 2

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