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What is the elasticity of demand at equilibrium

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In New York, the demand for umbrellas is Qd = 100 - P - 3T, and the supply of umbrellas is Qs = -40 + P + 5T +2R, where P is the price of an umbrella, T is the toll on the bridges and tunnels into the city, and R is the rental rate of retail space.a.

What is the equilibrium price and quantity in this market if T = 5 and R = 10?

What is the elasticity of demand at equilibrium if T = 5 and R = 10?

Reference no: EM132445712

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