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Absolute value of the price elasticity

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A local market for claybricks has weekly demand described by P=1.55-.008q and supply described by P=.32+.0012q calculate the equilibrium price.

In response to a prce decrease from 27 to 22 sales qty increases 13200 to 14800 calcuatente absolute value of the price elasticity of demand.

In response to a price increase from 3.75 to 3.99 sales qty decreases 125 to 112. calcualte the aboslute value of th price elastictiy of demand.

Reference no: EM131626425

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