What is the price elasticity of supply and demand

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Reference no: EM131238767

The demand for strawberry in Baltimore is Q=10-0.5P_d and the supply for strawberry is Q=0.5P_s in Pittsburg.

Derive the demand for transportation.

Find the equilibrium price (for both demand and supply) and quantity, if T=4.

What is the price elasticity of demand?

What is the price elasticity of supply?

What is the expenditure in equilibrium?

What would be the new equilibrium price and quantity if the demand changes to Q=15-0.5P_d

If the supply for transportation is Q=2+.75T, find the equilibrium for transportation

Now, find the equilibrium price and quantity for strawberry when transportation is in its equilibrium.

Reference no: EM131238767

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