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

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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

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 3QR

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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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