calculate price elasticity of demand and supply, Microeconomics

Assignment Help:

1. Calculate price elasticity of demand and supply for the following functions when (a) P=8 and (b) Q=6.

i. P= 40 - 0.5Q

ii. Q= -40 + 0.75P

iii. Q - P + 2 = 0

iv. 2P + 0.2Q = 40

v. P = 20 - 2Q

4P + 4Q = 64

 

 


Related Discussions:- calculate price elasticity of demand and supply

Determine customer satisfaction levels, Periodically, Merrill Lynch surveys...

Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co

Unemployment, causes and effect of the unemployment

causes and effect of the unemployment

Draw a graph of the market for reserves, During summer of 2006, China incre...

During summer of 2006, China increased their reserve requirement for the banking system while maintaining a fixed target for the interbank lending interest rate. Draw a graph of th

Demand pull inflation and cost-push inflation, Demand Pull Inflation and Co...

Demand Pull Inflation and Cost-Push Inflation: Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in n

Expected value, Expected Value - The weighted average of payoffs or val...

Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected

Theory of second best, What is the theory of Second Best? Prove the theore...

What is the theory of Second Best? Prove the theorem with the help of a diagram.

Demand and supply, identify which curve (demand or supply) will be affected...

identify which curve (demand or supply) will be affected?

3, . Crumble Corporation produces cookies. Here is the relationship betwee...

. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd