Illustrate the demand curve. how much will consumers spend, Ask an Expert

Economics

The following is a demand schedule for shoes:

Price: $100 $80 $60 $40 $20
Quantity: 10 14 18 22 26

a. Illustrate the demand curve.

b. How much will consumers spend on shoes at a price of $80?

c. As price drops from $100 to $80, is the demand elastic or inelastic? Show your work or reasoning.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M963494

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