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Question - The demand for hybrid cars in Baltimore is Q = 16 - 4Pd and the supply for the car in Detroit is Q = 4 + 2Ps.
a. Draw the demand and supply curves.
b. Derive the demand for transportation.
c. What is the point price elasticity of demand at Pd=5?
d. What is the arc elasticity of demand between Pd=4 and Pd=5?
e. If the transportation supply is Q = 2 T, find the equilibrium for transportation.
f. Find the equilibrium price and quantity at both demand and supply locations.
g. What is the expenditure in equilibrium?
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To take advantage of the "international bike shortage", Giant, the world largest bike manufacturer from Taiwan, resumed producing bikes
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Show that this price leaves you with a smaller profit than if you can announce different prices early in the morning of each day, after you have learned.
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