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PS 1. Given Demand curve Q- 2P+20 determine for each arc AB & CD the ff. Fill out the blank cells in the table below: Qd (Quantity demanded), AveQd(Average Qd). Arc ED(Arc elasticity). Elastic?(Yes/No), Revenue, Inc( Decrease in Revenue as a result of price Increase 16 Arc Elastic? Point | Qd |P |AveQ | AveP Rev Inc(Dec) points) ED (Y/N) A 9 XX XX XX XX XX ARC AB B 17 8 -24 C 3 XX XX XX XX 42 XX ARC CD D 2 Answer the ff. (1 point each) Given Demand curve Q--2P+20 determine for each arc AB & CD the ff. 1. Arc Elasticity of Demand (Arc ED) at AB Answer> > > 2. Arc Elasticity of Demand (Arc ED) at CD 3. Is Demand Elastic at AB? Yes or No Ind. ( Decrease in Revenue) if price increases at CD