Find equilibrium Price and quantity from the following demand and supply functions, also determine whether demand is elastic or inelastic. i. Qd=95-3P 2 Qs= -10+6P ii. Qd=1400-60P Qs= -400+30P B. Yesterday price of the pencils box was Rs 60 a box, and Ali was willing to buy 12 boxes. Today the price goes up to Rs 84 a box, and now Ali is willing to buy 8 boxes. Is Ali’s demand for a pencil box is elastic or inelastic? What is Ali’s elasticity of demand
Find equilibrium Price and quantity from the following demand and supply functions, also determine whether demand is elastic or inelastic. i. Qd=95-3P 2 Qs= -10+6P ii. Qd=1400-60P Qs= -400+30P B. Yesterday price of the pencils box was Rs 60 a box, and Ali was willing to buy 12 boxes. Today the price goes up to Rs 84 a box, and now Ali is willing to buy 8 boxes. Is Ali’s demand for a pencil box is elastic or inelastic? What is Ali’s elasticity of demand
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter5: Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 13PAE
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Find
functions, also determine whether demand is elastic or inelastic.
i. Qd=95-3P 2 Qs= -10+6P
ii. Qd=1400-60P Qs= -400+30P
B. Yesterday price of the pencils box was Rs 60 a box, and Ali was willing to buy
12 boxes. Today the price goes up to Rs 84 a box, and now Ali is willing to buy 8
boxes. Is Ali’s demand for a pencil box is elastic or inelastic? What is Ali’s
elasticity of demand
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