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

Behavioural economics, An economics branch which keep concentrate on illumi...

An economics branch which keep concentrate on illumination the economic decisions people make in practice, particularly when these conflict with what conventional economic theory p

Allocated stock and safety stock - mrp system, Allocated Stock and Safety S...

Allocated Stock and Safety Stock  Allocated stock  A category of stock which ensures that current stock is set aside and not issued under the normal procedure.  Safet

Esalstcity of demand and supply, why is the concept of elasticity crucial t...

why is the concept of elasticity crucial to the study of economics?

Need anser, Consider what would happen if a taxes of 10000$ was imposed on ...

Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the

Economic analysis of asset replacements, An important aspect of municipal f...

An important aspect of municipal finance involves capital budgeting and resource allocation.  In some cases, resource allocations involve expenditures that are not directly revenue

Optimal Production Quantity, Wholemark is an Internet order business that s...

Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos

Competitive short run supply curve of firm and industry, A Competitive Shor...

A Competitive Short Run Supply Curve of Firm * Observations: - P = MR - MR = MC - P = MC * Supply is amount of output for every possible price.  Thus: -  If

Elasticity, what are the uses of cross elasticity quantity in demand/

what are the uses of cross elasticity quantity in demand/

Supply, concept of supply

concept of supply

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