Consumer Demand & Elasticity 1. From the demand schedule below show on a graph showJo's and Lee's individual demand functionsfor football matches in one season. 2. From the individual demand schedules calculate the market demand and showthis on a graph. 3. If the price ofa football match was to increase from $30 to $40, calculate: a. Jo's price elasticity of demand b. Lee's price elasticity of demand c. The market price elasticity of demand 4. Do you think demand for the following goods and services would elastic, inelastic or unit elastic? Explain your reasoning. a. General practitionervisits over 12 months? lo. Movies over one month? c. Cigarettes over one month? d. Hospital emergency department visits over 12 months? e. Apples over one month? Table 1: Individual demand schedules for football matches in one season. Price of one football Jo's demand for football Lee's demand for Market demand for match matches football matches football matches ($) {N per season] (N per season) (N per season] 0 24 15 1o 22 13 20 18 30 4O 50 60 7o 4 0 so 0 '3