Please answer 4-5 only, thank you! A. Hypothetical Demand ScheduleProduct X(in Kilos)PricesPO100200300400500Requirement24.Quantity demanded45037530022515075based on the hypothetical demand schedule, graph Od and pricesIn 5 sentences discuss the relationship of Price and Quantity demandedo the Law of DemandDraw and explain in 3 sentences the influences of the following parameters in the behaviorof consumers, tell something about their effects on the original curve or d1.5.Give the complete demand function

Answered: Image /qna-images/answer/5f1975a4-8f75-46cc-8094-8bc9d9619b7b.jpg

4. Draw and explain in 3 sentences the influences of the following parameters in the behavior of consumers, tell something about their effects on the original curve or d1. 5. Give the complete demand function

4. Draw and explain in 3 sentences the influences of the following parameters in the behavior of consumers, tell something about their effects on the original curve or d1. 5. Give the complete demand function

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please answer 4-5 only, thank you!

A. Hypothetical Demand Schedule
Product X(in Kilos)
Prices
PO
100
200
300
400
500
Requirement
2
4.
Quantity demanded
450
375
300
225
150
75
based on the hypothetical demand schedule, graph Od and prices
In 5 sentences discuss the relationship of Price and Quantity demanded
o the Law of Demand
Draw and explain in 3 sentences the influences of the following parameters in the behavior
of consumers, tell something about their effects on the original curve or d1.
5.
Give the complete demand function

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