3. If the equation for a demand curve is P=45-3Q. What is the elasticity in moving from a quantity of 5 to a quantity of 6? 4. The equation for a demand curve is P=4/Q. What is the elasticity of demand as price falls from 5 to 4? 5. The equation for a supply curve is 2P=Q. What is the elasticity of supply as price rises from 3 to 4? 6. CenturyLink Field has 80,000 seats. What is the shape of the supply curve for tickets to football games at this stadium? Explain. 7. Would you expect supply to play a more significant role in determining the price of a basic necessity like food or a luxury item like a watch? Explain.