Consider the following demand and supply function of product ZT: Qd = 25 - 1.25 P Qs = -9 + 3 P Note: Determine the equilibrium point first to answer the following question. 9. What is the elasticity of demand at the original equilibrium point? Use a number, 2 decimal values, no commas, no space, no signs. * 10. How much is the change in the price for the producer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs.
Consider the following demand and supply function of product ZT: Qd = 25 - 1.25 P Qs = -9 + 3 P Note: Determine the equilibrium point first to answer the following question. 9. What is the elasticity of demand at the original equilibrium point? Use a number, 2 decimal values, no commas, no space, no signs. * 10. How much is the change in the price for the producer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs.
Chapter6: Elasticity
Section: Chapter Questions
Problem 5QP
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Consider the following
Qd = 25 - 1.25 P Qs = -9 + 3 P
Note: Determine the equilibrium point first to answer the following question.
9. What is the elasticity of demand at the original equilibrium point? Use a number, 2 decimal values, no commas, no space, no signs. *
10. How much is the change in the price for the producer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs.
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