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
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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
Transcribed Image Text: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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