an you ar Suppose that the monthly demand function of a particular commodity is given by P= 200 -0.4x and the supply unction is P = 0.2x + 80 where x is the number of units demanded and supplied and P is in pesos. a.) Determine the equilibrium prics and quantity p.) At a unit prices of P 140, by how many unit does supply exceed demand. =.) At a unit prices of P 90, by how many unit does demand exceed supply.

an you ar Suppose that the monthly demand function of a particular commodity is given by P= 200 -0.4x and the supply unction is P = 0.2x + 80 where x is the number of units demanded and supplied and P is in pesos. a.) Determine the equilibrium prics and quantity p.) At a unit prices of P 140, by how many unit does supply exceed demand. =.) At a unit prices of P 90, by how many unit does demand exceed supply.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 1.1P: (Calculating Price Elasticity of Demand) Suppose that 50 units of a good are demanded at a price of...

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