TECO1113D Microeconomics Tutorial 2 Question 1 The table shows the demand schedules for coffee for Brian and Nick. Quantity demanded for coffee (cups) a) Calculate the market demand for coffee and complete the table above. b) Draw the market demand curve. 0) Suppose that Brian drinks tea if he does not drink coffee. If the price of tea increases, what would happen to his consumption of coffee? Illustrate using demand curve to explain the situation. Question 2 Given that the demand and supply function for good A as follows: Qd = 200 5P a) Complete the demand schedule below. Price (RM) Quantity demanded (units) b) Suppose that the income of buyer has increased and cause the quantity demanded to change by additional 15 units at each price level. What is the new demand equation? Question 3 Given that the demand schedule for good A as follows: Quantity demanded (units) a) Derive the demand function based on the above schedule. (1 = (l bP b) Suppose that the price of good A is expected to increase next month. This results in the change of the current quantity demanded by 5 units at each price level. What is the new quantity demanded