What is the price at which demand elasticity
Course:- Business Economics
Reference No.:- EM131073893

Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Business Economics

1. Suppose you have a demand function given by: Q = 600 ? 0.5P. What is the price at which demand elasticity is Ed = ? 2? Hint: Instead of using price to find elasticity, you will now have to use elasticity to find price. You can use the point elasticity formula.

2. Suppose you have a demand function given by: Q = 1600 ? 4P. What is the price at which demand elasticity is unit elastic? Hint: You can just find the midpoint!

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
1. Explain why real GDP might be an unreliable indicator of the standard of living? - Answer not more than 250 words and add 2 academic references (Harvard referncing style)
Earl sells lemonade in a competitive market on a busy street corner in Philadelphia. His production function is f(x1, x2) = x1^1/3 x2^1/3, where output is measured in gallons,
In 2009, it was estimated that the total value of all corn production subsidies in the United States totaled about $4 billion. The population of the United States was approxim
Explain in words and in diagrams how a tax on high-skilled labor burdens low- skilled workers. Which of the following taxes do you think would cause the larger excess burden?
Why do economists differ as to the appropriate economic role of the state? What is deflation? What threat does it pose? What are the distributional consequences? What are the
A politician running for office has just made a public statement that the state of the U.S. economy has been deteriorating during the last decade. You are a journalist fact-ch
Between 1950 and 2006, the price of wheat fell dramatically from $15.81 per bushel to $3.40 per bushel. Suppose b/w 1950 and 2006, the supply of wheat increased substantially
A 50-kilowatt gas turbine has an investment cost of S40,000. It costs another S17,000 for shipping, insurance, site preparation, fuel lines, and fuel storage tanks. The operat