Question 5 (5 points) A team has a demand curve forjerseys given by P = 100 - 0.04Q. If the team is selling 1000 jerseys, what is p? :] Q, If the team raises P by $1 at this point on the demand curve, what is the % change in P, in absolute value, rounded to 1 decimal place? ' ' 6/ What's the absolute value of the % change in Q (rounded to one decimal place} associated to this $1 reduction in P? [ ' Q; What's the absolute value of the elasticity of demand (to one decimal place] at this point on the demand curve? :] 4, True or false: If the firm lowers its price by $1 at this point on the demand curve, both revenues and costs rise. [a {V