Linear Demand Functions

The Linear Demand Function Qd = 300 30P for Espresso coffee beans.

1. Create a Demand Schedule with Prices $0, $5, $10, $15, $20.

2. Draw a Demand Curve by plotting the points you found in your Demand
Schedule.

3. There is a decrease in Demand for coffee beans changing your a variable by
50. Write the new equation and complete the new Demand Schedule.

4. Plot the new Demand curve on the same graph.

5. Consumers have become less responsive to price changes of coffee bean due
to the addictive qualities of coffee. It causes the b variable to change by 10.
Write the new Demand function (based on the original), calculate the new
Demand Schedule and sketch the new demand curve on the same graph.