the answer for number 23 would be -1.9 right? 22. Assume a market supply function is given by the equationlunem onodqlaniw Awhere Q, is the quantity supplied and P is the price. If P equals 15, the value of thetor ob ai enomase gniwollot ods lo dbirW.noinubouniaiannoiqaspibilduq avisizoq lo Iselaigid levakus Qs =-7+0,6P, gaillet lliz ai 19uaniwollot ods to dbirWoinubouniLEARNslq torewhere Q, is the quantity supplied and P is the price. If P equals 15, the value esproducer surplus is closest to: iditinpoA. 3.3.В. 41.0.C. 67.5.ni al kH ra liw ibe sih d bisq ai Jerh bloe zrnsni no xm sinuorig noobonniboicabbne osluram adb nadh worg omooni amuano-The following information relates to Questions 23 through 25. in ladnThe market demand function for four-year private universities is given by the equation:DiVeblQ = 84 – 3.1Pr + 0.81 + 0.9Pu gaiwollot ada to thidto daidWs no moit aulqua lo 1slensu A A%3Dwhere Q is the number of applicants to private universities per year in thousands, P, is thepraverage price of private universities (in thousands of USD), I is the household monthly income1. IN(in thousands of USD), and Ppu is the average price of public (government-supported) uni-versities (in thousands of USD). Assume that P, is equal to 38, I is equal to 100, and Puequal to 18.orh bing bad 1sil2 arh li nsda 1dgid od lliw bieq soh23. The price elasticity of demand for private universities is closest to:on soing odT&A. -3.1.BiveВ. —1.9.C. 0.6.

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The market demand function for four-year private universities is given by the equation: d Q = 84 – 3.1Pr + 0.81 + 0.9Ppuaiwollo 1ons o sq sno mon aulmua to 3o taid where Q is the number of applicants to private universities per year in thousands, P is the average price of private universities (in thousands of USD), I is the household monthly income (in thousands of USD), and Pu is the average price of public (government-supported) uni- versities (in thousands of USD). Assume that Pr is equal to 38, I is equal to 100, and P is equal to 18. pr pr pu h bing nsda odgid od lliw bisq 23. The price elasticity of demand for private universities is closest to: А. -3.1. В. - 1.9. С. 0.6. oing adT

The market demand function for four-year private universities is given by the equation: d Q = 84 – 3.1Pr + 0.81 + 0.9Ppuaiwollo 1ons o sq sno mon aulmua to 3o taid where Q is the number of applicants to private universities per year in thousands, P is the average price of private universities (in thousands of USD), I is the household monthly income (in thousands of USD), and Pu is the average price of public (government-supported) uni- versities (in thousands of USD). Assume that Pr is equal to 38, I is equal to 100, and P is equal to 18. pr pr pu h bing nsda odgid od lliw bisq 23. The price elasticity of demand for private universities is closest to: А. -3.1. В. - 1.9. С. 0.6. oing adT

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 53P: Table 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles...

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