P4 X The illustration to the right shows the demand for a good. Use the information below and the illustration to the right to solve the following scenarios. P3 P4 = $15.00 Q1 = 3.0 P3 = 10.00 Q2 = 4.0 P2 = 6.00 Q3 = 6.0 P1 = 5.00 Q4 = 9.0 P2 Z S Table 1 P1 Consider the points between X and Y. The price changes by % The quantity demanded changes by The elasticity of demand is Q1 Q2 Q3 Q4 This is considered to be QUANTITY Scenario 2 Use the information from Table 1 and the illustration above to help solve this scenario. Consider the points between Y and Z. The price changes by approximately % and the quantity demanded changes by approximately %. In this region, the demand is Scenario 3 Use the information from Table 1 and the illustration above to help solve this scenario. Consider the points between Z and S. The price changes by approximately % and the quantity demanded changes by approximately %. In this region, the elasticity of demand is and is therefore considered to be