Burger demand curve is represented by the following equation:T=10-Q .  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: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter20: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 7CQ
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Burger demand curve is represented by the following equation:T=10-Q . 
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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