if you have the following demand schedule(15 Marks) P Q 10 0 9 3 7 11...

if you have the following demand schedule P Q 10 0 9 3 7 11 3 30 1 40 0 45 Answer the following: 1. Draw the demand curve. 2. Show that the slope of the demand curve is negative. 3. Explain why the slope of the demand curve is negative. 4. Explain the meaning of the intersection of the demand curve with the horizontal and the vertical axes. 5. If income increases from $500 to $1000 .How would that affect the demand curve? Draw? Explain?

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Rahul Sunny answered 1 year ago

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