Question: The data below represent a demand schedule. Product Price Quantity Demanded $ 6 0 a. In the diagram below, draw a demand curve. Instructions: Use

The data below represent a demand schedule. Product Price Quantity Demanded $ 6 0 a. In the diagram below, draw a demand curve. Instructions: Use the tool provided 'Demand' to graphically show demand. This line should only contain the two endpoints. Demand Schedule O Tools Demand Product price w N 5 Quantity demanded Instructions: Round your answers to two decimal places. Enter your answers as positive values (absolute values) b. Use the midpoint formula for Ed to determine price elasticity of demand for each of the $1 price changes below. Moving from $4 to $3, Ed =[ Moving from $3 to $2, Ed= c. What can you conclude about the relationship between the slope of this demand curve and its elasticity? The demand curve has a constant slope of (Click to select) , and its elasticity |(Click to select) V |as we move down the curve

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