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suppose that the market demand curve for pasta is a straight line of the form Q=300-50P where Q is the quantity of pasta bought in thousands of boxes…

suppose that the market demand curve for pasta is a straight line of the form Q=300-50P where Q is the quantity of pasta bought in thousands of boxes per week and P is the price per box (in dollars) a) at what price does the demand for pasta go to 0? Develop a numerical example to show that the demand for pasta is elastic at this point.b) how much pasta is demanded at a price of $0? Develop a numerical example to show that the demand is inelastic at this point.c) how much pasta is demanded at a price of $3? Develop a numerical example that suggests that total spending on pasta is as large as possible at this price.

 

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