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1. Graph the following situations and decide whether the demand curve for each graph you drew is elastic, inelastic, perfectly elastic or perfect inelastic AND

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1. Graph the following situations and decide whether the demand curve for each graph you drew is elastic, inelastic, perfectly elastic or perfect inelastic AND why: a. My cats love Kitty Kat Treats, and I will buy as much as the store has at the current price of $2. But when the price of Kitty Kat Treats increases by even 5 cents, I won't buy any! b. I will buy 20 bags of Kitty Kat Treats at any price. c. If the price of Kitty Kat Treats rises by 5%, I'll decrease my quantity demanded by 10%

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