Oe a short bond paper, do what is indicated in the following items.LOneo the demand function: Qd 50 - 4P.a Construct a demand schedule for the following prices: 1, 2, 3, 4, 5b Draw the corosponding demand curve and label it as Di.2 Suppose the demand function in Number I becones Qd = 40 - 4P.a Add the new demand schodulo to the schedule constructed in Number la.b. Draw the new demand curve in the same graph that has been drawn in Number Ib and label it as Da3. How has the demand curve shiftod? What change in demand is mdicated by the shift?

1. We are given the demand function: Qd = 50-4P

Answered: mand function in Number I becones Qd 40…

mand function in Number I becones Qd 40 -4P. w demand schodulo to the schodule constructed in Number la ew demand curve in the same graph that has been drawn in Number Ib

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 11PA

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Question

Oe a short bond paper, do what is indicated in the following items.
LOneo the demand function: Qd 50 - 4P.
a Construct a demand schedule for the following prices: 1, 2, 3, 4, 5
b Draw the corosponding demand curve and label it as Di.
2 Suppose the demand function in Number I becones Qd = 40 - 4P.
a Add the new demand schodulo to the schedule constructed in Number la.
b. Draw the new demand curve in the same graph that has been drawn in Number Ib and label it as Da
3. How has the demand curve shiftod? What change in demand is mdicated by the shift?

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