Questions: 1- Tom, Dick, and Harry constitute the entire market for scrod. Tom's demand curve is given by QT = 100 - 2P ifP 50 and QI = O if P > 50 Dick's demand curve is given by 160 -4P if P 40 and QI = 0 if P > 40 QD Harry's demand curve is given by 150- 5P if P and QI = O if P > 30 QH a. b. c. *Find out whether they have elastic demand or inelastic demand. Hint: You can show that the middle point on a linear demand curve has unit elasticity. *What is the total market demand for scrod? *Will their expenditure rise or fall (individually and in aggregate) if price rises from 20 to