5 - Consider the following linear demand curve: Qd= 56 -3P. What does the absolute value of the price elasticity equal if P =13?

6 -Consider the following linear demand curve: Qd= 25 - 0.50P.What is the total amount the market is willing to pay for the3 units?

7 - Consider a good whose Price Elasticity of Demand equals-0.6.If the good's Price falls by1percent, what does the percentage increase in Quantity Demand equal?

8 -Consider the following linear demand curve: Qd= 20 - (1/3)P.What is the total amount the market is willing to pay for the 13 units?Assume a continuous demand function.