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

Demand and supply, technological advance reduced the cost of computer chips...

technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti

Summary of educational planning and economic growth, Summary of Educational...

Summary of Educational Planning and Economic Growth An economy with scarce resources and enormous needs and aspirations requires planning. This is true of the education sector

Estimating the level of output for the target year, MRP Technique - Estima...

MRP Technique - Estimating the Level of Output for the Target Year Taking into account several parameters of economic growth such as past trends, present as well as proposed

Cost curves, With the aid of a diagram explain the long run average cost cu...

With the aid of a diagram explain the long run average cost curve and the influences upon it.

Plot the budget constraints on the graph, 1. Let's get some practice plotti...

1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when: a. (Use Black): P x = 57,P y = 18, and M = 342. b. (Use Blue):

Resource market complications, Over the course of modern American economic ...

Over the course of modern American economic history there have been market failures, various social problems, and other complexities that have resulted in certain resource markets

Kolbey:s reaction, why can methane not be prepared by this reaction

why can methane not be prepared by this reaction

Critique on earmarking, Critique on Earmarking Studying the working of...

Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic  cooperation and development) countries, Potter and Diamond (1999) pointed out

International trade, how might opportunity cost help to explain the pattern...

how might opportunity cost help to explain the pattern of international trade?

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