Whoever may answer this, thank you in advance and God bless! Keep safe!

Solve for the following items. Write your answers on the back of this sheet.

1. The following is a demand schedule for RJ Guitars. Construct the demand curve.

Price	Quantity Demanded
P4,000	2
P3,500	6
P3,000	10
P2,500	14
P2,000	18

1. Because of a typhoon in the city, the price of cabbages rose from P60.00 to P80.00, and the quantity demanded falls from 150 kilos to 100 kilos.
   1. Compute for the price elasticity for this price range.
   2. What is the interpretation of this price elasticity of demand?
   3. What happens to the total revenue of sellers when the price of cabbages increases?
2. The following table shows the daily quantity sold for two (2) products in Brigg's Warehouse according to the average income of customers.

	Quantity demanded if income is P15,000	Quantity demanded if income is P25,000
Product A	20	15
Product B	12	18

1. Calculate and interpret the income elasticity for Product B, if a customer's income changes from

P15,000 to P25,000.

2. Calculate and interpret the income elasticity for Product A, if another customer's income changes from P15,000 to P25,000.