If the elasticity of demand for good x is minus 0.5 at the price P= $10 and quantity Q = 8000,

1. what is It the value of the parameter b if the demand function is of the form Q = A + bP?
2. What is the value of the parameter A?
3. At what price and quantity is total consumer expenditure for good x at its maximum?
4. At price = $10, quantity = 8000 and Income(M) = $1000, the income elasticity of demand is .025. Expand your estimation of the demand function to identify the parameters K, b and c of the form Q = K + bP + cM.
5. What is the value of the parameter b if the demand function is of the form Q = APb?