Question: INSTRUCTIONS: Select the appropriate schedules and transfer to the graph. Label the graph properly and answer all questions. Legible answers are a ureciated. GRAPH: The

INSTRUCTIONS: Select the appropriate schedules and transfer to the graph. Label the graph properly and answer all questions. Legible answers are a ureciated. GRAPH: The price of Turbo-Internet Service (Graph 10 points) increased from $30 to $90 per month. LIIJEI the graph properly. ANSWERS: (5 X 4 points each = 20 points) As a result, a change in quantity demanded P occurred in that quantity demanded (increased, decreased, did not change) from _80___ to _30_. This situation indicates a (surplus, shortage, not applicable) This is a (sellers' market, buyers' market, not applicable). NUMBER OF CUSTOMERS ANSWERS: Employ the Mid-Points Formula to compute Ed. I (5 x 4 points each = 20 points) _0.909 . Total The demand for this product is (elastic, inelastic, unitary) and the Ed is equal to . This indicates a Revenue for this product (increases, decreases, does not change) by $___300 (sellers' market, buyers' market, not applicable). SHOW YOUR COAJPUTATIONS HERE

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