1- Consider the following linear demand curve: Qd= 25 -3P. What does the absolute value of the price elasticity equal if P =5?

2-Consider the following linear demand curve: Qd= 51 -3P. What does the absolute value of the price elasticity equal if P =5?

3- Consider the following linear demand curve: Qd= 20 -0.25P.How much is the market willing to pay for the 5th unit?

4- Consider the following linear demand curve: Qd= 20 -0.25P.What is the total amount the market is willing to pay for the 8 units?Assume a continuous demand function.

5- Consider the following linear demand curve: Qd= 10 - (1/3)P.What is the total amount the market willing to pay for the 8 units?Assume a continuous demand function.Round answer to the second decimal place (e.g., if your answer equals 100.259, submit 100.26).The answer allows for a small margin of error.

6- Consider the following linear demand curve: Qd= 20 - P.What does consumer surplus equals when the market price equals 19?Assume a continuous demand function.Round answer to the second decimal place (e.g., if your answer equals 100.259, submit 100.26).The answer allows for a small margin of error.

8- What does a marginal revenue equal when the firm's price equals 21 and the price elasticity of demand equals -0.2?