c) Price elasticity of demand for the product when the price increases from RM QUESTION 1 4.00 to RM6.00. Illustrate the condition using a suitable graph and indicate the Ahmed is considering to sell beverage which cater for three main types of degree of the elasticity. (E.g.: elastic, inelastic, etc.) consumer market, i.e., teenagers, adults and senior citizen. Therefore, he requires (8 marks) Information concerning the consumers and market demand as to understand well (Total marks: 20) the demand of the said product. At the same time, he is interested to know how is the sensitivity of the consumers in responding to the changes in pricing of this product. Table 1: Product (Beverage) Demand Information Price Quantity Demanded (RM) Market Demand Teenagers Adults Senior Citizen 20 21 19 16 18 16 12 13 8 10 VOUAWN- O WO ONG 4 OOO O - A Based on the information in Table 1, you are required to advise Ahmed on the following items: a) Total market demand for the said product. (Use a table to clearly state a market demand). (4 marks) b) Using a diagram, draw the individual demand curve for each consumer and total market demand for the said product. (8 marks) 2 | Page 3 | Page