Question: Instructions: After interacting on your own with the model above press the Reset button. Use the Demand Slider in the Settings to have your

Instructions: After interacting on your own with the model above press the "Reset" button. Use the Demand Slider in the "Settings" to have your demand curve match the equation listed. Use the absolute value for your answer (no minus sign). Round your answer to one decimal place at the end of your calculations. At the initial demand curve (Demand: P-$6.00-0.100(Qd)} a. Using the midpoint method, what is the price elasticity of demand when the price changes from $3.00 (P1) to $4.00 (P2)? b. What describes this price change? [Price elastic Instructions: Use the Demand Slider in the "Settings" to have your demand curve match the more elastic demand curve {Demand: P=$4.80-0.060(Qd)). Use the absolute value for your answer (no minus sign). Round your answer to one decimal place at the end of your calculations. c. Using the midpoint method, what is the price elasticity of demand when the price changes from $3.00 (P1) to $4.00 (P2)? d. What describes this price change? Price elastic Instructions: Use the Demand Slider in the "Settings" to have your demand curve match the more elastic demand curve {Demand: P=$6.75-0.125(Qd)). Use the absolute value for your answer (no minus sign). Round your answer to one decimal place at the end of your calculations. e. Using the midpoint method, what is the price elasticity of demand when the price changes from $3.00 (P1) to $1.00 (P2)? Supply Demand Curve

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