Burger demand curve is represented by the following equation:Q=16-4P .  a.If at the current market price, the elasticity of demand for burger is -2, what is the market price and what is the equilibrium quantity? b.Please write down a supply curve that aligns with the above characterized equilibrium.

Economics (MindTap Course List)
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Chapter19: Elasticity
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Problem 6QP: Suppose a straight-line downward-sloping demand curve shifts rightward. Is the price elasticity of...
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Burger demand curve is represented by the following equation:Q=16-4P . 
a.If at the current market price, the elasticity of demand for burger is -2, what is the market price and what is the equilibrium quantity?
b.Please write down a supply curve that aligns with the above characterized equilibrium.

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