quations.1. Suppose that you usually consume some ice creams monthly. The quantity demanded (Ineconomics, the quantity demanded of a goods or service is the total amount that buyers arewilling to and able to purchase.) is closed related to many factors. Please list some of themyou can think of and explain how they affect the quantity demanded.2. One of the most important factors is the price of the goods or service. The following table,called the demand schedule, describes how the number of ice creams you may consume eachmonth depends on the price of it. Please complete the following table.The price of ice-cream in dollar_(P)The quantity demanded of ice cream (Q)0.00190.50161.00131.502.002.503.00For example, when the price of the ice cream is $0.00, you will consume 19 ice creams in onemonth. While the price is $0.50, you will consume 16 ice creams.Find the pattern of quantity and try to explain.3. Use x-axis to represent the quantity demanded, and y-axis to represent the price of icecream. From the table above, draw the graph about the price (P) and the quantitydemanded (Q) and find the equation the line.In Economics, the curve is called the demand curve.4. Suppose that this month you get promoted and your salary increases. You will be able toconsume one more ice cream under each price. Find the new demand curve when her salaryincreases, Furthermore, compare these two curves, where does the new demand curveshift?5. Make a guess, if your salary decreases, how does the new demand curve shift? Why?O FocusLes)Mac80F5F66.6.云CO 6. Similar as consumers, for the seller of ice creams Ben, the quantity supplied is also closelyrelated to the price of the goods (In Economics, the quantity supplied of a goods or service isthe total amount that sellers are willing to and able to sell).The following table, called the supply schedule, describes how the amount of ice creams thatthe seller Ben provides depends on the price of ice cream. Please complete the table.The price of ice cream in dollar (P)The amount of ice cream provided (Q)1.001.5042.002.503.00?Similarly find the pattern of quantity of supply and explain why.Similarly, use x-axis for the quantity supplied and y-axis for the price, and draw the graph ofprice and quantity supplied, which is called supply curve in economics, and also find theequation of the graph.7. Find the solutions of quantity and price satisfy both equations in question 2 and 6.In Economics, the solution of quantity is called equilibrium quantity and the price is called theequilibrium price.8. Investigate what you and Ben will do when the price is higher or lower than the equilibriumprice, that is the price you find in question 7.O Focus

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We need to find linear equation.
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