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Kate

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  • ECON Final Tomorrow, PLEASE Help.?

    Given: Demand : Q=9000-6P

    Supply: Q=-3000+9P

    A.) Find equilibrium price and quantity.

    I have calculated this to be P= $800 and Q= 4,200

    Could you please show me how to work out B and C

    B.) What is the price elasticity of demand at the equilibrium price and quantity?

    C.) What is the price elasticity of supply at the equilibrium price and quantity?

    1 AnswerEconomics1 decade ago

  • Microeconomics question: Can you please show me how to work out these problems?

    I'm not sure how to calculate the percent change with the info given. Thanks in advance for your help.

    Demand: Q = 4,000 - 4P

    Supply: Q = -200 + P

    B) What is the price elasticity of demand at the equilibrium price and quantity?

    C) What is the price elasticity of supply at the equilibrium price and quantity?

    1 AnswerEconomics1 decade ago

  • Microeconomics question: how to use Midpoint Formula?

    Can someone show me how to work this out?

    Demand is given by P=20 - .2QD, between the prices of $12 and $13. The answer is negative 1.67.

    Thanks so much,

    Kate

    2 AnswersEconomics1 decade ago