This question examines the market for smart watches. You will construct a demand curve from a...

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This question examines the market for smart watches. You will construct a demand curve from a demand schedule and explore the relationship between the price of a new smart watch and the quantity of smart watches demanded by consumers. The relationship between the price of a new smart watch and the quantity demanded is provided by the demand schedule below. Price (dollars per smart watch) Quantity Demanded themands) $500 400 20 300 40 200 60 100 80 Task 1: In the space below, plot each of the five points provided in the demand schedule and sketch out the demand curve for smart watches. Remember to place "Quantity Demanded (in thousands)" on the horizontal axis and "Price (dollars per smart watch)" on the vertical axis. Hint: This demand curve is a straight line. Task 2: What is the quantity of smart watches demanded when the market price is $300 per smart watch? Task 3: What is the quantity of smart watches demanded when the market price is $250 per smart watch? This question examines the market for smart watches. You will construct a demand curve from a demand schedule and explore the relationship between the price of a new smart watch and the quantity of smart watches demanded by consumers. The relationship between the price of a new smart watch and the quantity demanded is provided by the demand schedule below. Price (dollars per smart watch) Quantity Demanded themands) $500 400 20 300 40 200 60 100 80 Task 1: In the space below, plot each of the five points provided in the demand schedule and sketch out the demand curve for smart watches. Remember to place "Quantity Demanded (in thousands)" on the horizontal axis and "Price (dollars per smart watch)" on the vertical axis. Hint: This demand curve is a straight line. Task 2: What is the quantity of smart watches demanded when the market price is $300 per smart watch? Task 3: What is the quantity of smart watches demanded when the market price is $250 per smart watch?