WHAT COULD EXPLAIN THE SIMULTANEOUS INCREASES IN THE PRICES OF LITHIUM AND THE PRODUCTION OF LITHIUM? HOW CAN SUPPLY AND DEMAND CURVE OR A SHIFT IN THE SUPPLY CURVE LEAD TO THIS RESULT?

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A: Answer to the question is as follows:

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A: P1 = $2.40           P2=$3.00 Q1 = 250,000      Q2 =200,000     Point Price Elasticity: ep = ∆Q∆P x…

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A: Point elasticity of demand = dQ/dP * P/Q Arc price elasticity = [(Q2 - Q1) / {(Q2 + Q1) / 2}] / [(P2…

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A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Consider the following demand and supply relationships in the market for golf balls: Qd = 90 - 2P -…

A: (Q) Consider the following demand and supply relationships in the market forgolf balls: Qd = 90 - 2P…

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