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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

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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