Question 1 Suppose the demand schedule for compact discs is as follows : Price Quantity Demanded Qua

[answerhappygod]

Question 1
Suppose the demand schedule for compact discs is as follows:
Price Quantity Demanded Quantity Supplied
$8 40 20
10 35 30
12 24 45
14 16 50
Question 2
Yesterday, the price of envelopes was $3 a box, and Julie waswilling to buy 10 boxes. Today, the price has gone up to $3.75 abox, and Julie is now willing to buy 8 boxes.
Question 3
Use the following information to compute your own-price, income,and cross-price elasticity of demand for propane heaters.
Price
Quantity Demanded
Income ($000)
Heat Pump Price
$100
1000
20
$4000
$200
2000
30
$2000
$300
1500
30
$4000
$400
2500
30
$5000