Ill. Application of Approaches in Economic Analysis (10 points) 1. Given the demand schedule below, a. Compute the coefficient of determination/slope and derive the demand function. (3 points) b. The quantity demanded when price is zero (0) is the in the demand function and the in the demand curve. C. The sign of the coefficient of determination is always because of the relationship of the dependent variable and the independent variable 2. Given the supply function: $ -50 + 2P a Determine the quantity supplied and fill up the column in the schedule using the same market prices in given table below. Show the computations. (12 points)