Hi all, I'm having trouble understanding how to calculate the items squared in red below 1) the second graph point in a linear demand curve, and 2) how a was calculated for a power demand curve. I'm hoping someone can explain this like I'm a second grader trying to understand this - after reviewing different youtube videos in addition to the class reading explaining this, I just can't grasp how it's done.

The screenshot below is an answer I found to the question online, but I really need to understand how to do this myself so I was trying to use this as a guide for me.

This is all that is provided to then calculate/figure out: Your company charges $60 for a board game it invented and has sold 3.000 copies during the last year. Elasticity for board games is known to equal 3. Use this information to determine a linear and power demand curve.

B10 fx =A10*B5^-3 A B C D E F G H K M N O Q 1 Question Your company charges $60 for a board game it N price (p) $60 invented and has sold 3.000 copies during the 3 elasticity Power Demand Curve last year. Elasticity for board games is known 4 demand (d) 3000 3000 7000 to equal 3. Use this information to determine 5 a 0.27144 a linear and power demand curve. 6 6000 7 Price Demand 5000 8 40 2000 9 50 2500 4000 10 60 3000 11 70 3000 3500 12 80 4000 200 13 90 4500 14 100 5000 100 0 15 110 5500 0 16 120 6000 O 20 40 60 80 100 120 140 17 0 18 19 20 21 22 Linear Curve 23 3010 24 Price (p) $60 60.6 3000 25 Demand (d) 3000 2910 2990 26 Elasticity 3 2980 27 2970 28 2960 29 2950 30 2940 31 2930 32 2920 33 2910 y =-150x + 12000 34 2900 35 $ 60 $ 60 $60 $ 60 $ 60 $ 60 $61 $61 $61Forms of Demand Curves There are multiple forms of demand curves that you can use to analyze marketing data. Using q to represent the quantity demanded of a product, the two most com- monly used forms for estimating demand curves are as follows: I Linear demand curve: In this case, demand follows a straight line rela- tionship of the form q : a bp. Here :1 : quantity demanded and p : unit price. For example, q : IO p is a linear demand curve. (Here a and b can be determined by using a method described in the \"Estimating a Linear Demand Curve\" section of this chapter.) When the demand curve is linear, the elasticity is changing. I Power demand curve: In this situation, the demand curve is described by a power curve of the form q = apb, a>0, b