Required information Problem 02-05 Excel Exercise Parts 1and 2 The demand curve for product X is given by Qxd =500 - 4Py. The price of product X is $50. Problem 02-05 - Excel Exercise Part 2 of 2 Assume that the information about product X from the problem changed to the following: Demand intercept 460 Demand slope -4 Price of product X $ 20 - Instruction: Update the data in your spreadsheet to the values above and enter the recomputed answers for the original questions. Required: 1. What is the intercept for the inverse demand curve? 2. What is the slope for the inverse demand curve? Instruction: Enter your response rounded to two decimal places and negative answer should be indicated by a minus sign. 3. How much consumer surplus do consumers receive at the given price