Please answer with solution and explanation. Show graph and curve for both seller and buyer point of view.

5) If a price of corn is $3.00 a bushel, 5,000 bushels would be demanded. If the price rises to $4.00 a bushel, 4,000 bushels would be demanded. a. What is the arc rice elastici of demand? b. Based on this answer, if the price of corn rose to $5.00 a bushel, what would be the demand for corn? 0. If the price of corn decreased from $4.00 to $3.00 a bushel, what would be the change in total revenue for sellers of com? d. If the price of corn increased from $4.00 to $5.00 a bushel, what would be the change in total revenue for sellers of corn