Problem
The demand for dinners in the only restaurant in town has a unitary price elasticity of demand when the current average price of a dinner is $8. At that price 120 people eat dinners at the restaurant every evening.
a) Find a linear demand curve that fits this information and draw it on a clearly labeled graph.
b) Do you need the information on the price elasticity of demand to find the curve? Why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.