What values should I plug in for the P, the QD, and the QS values in these equations for elasticity of demand and supply? The demand and supply equations are: QD=15-10P QS=40P-50

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 25P: If the price of a pie is 12, what is the maximum number of pies she could buy in a week?
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What values should I plug in for the P, the QD, and the QS values in these equations for elasticity of demand and supply? The demand and supply equations are:

QD=15-10P

QS=40P-50

AQº¸ P
AP Q°
ДО Р
1
P
ED
ДР
slope Qº
1
P
ES
АР 0 slope
ΔΡ
Transcribed Image Text:AQº¸ P AP Q° ДО Р 1 P ED ДР slope Qº 1 P ES АР 0 slope ΔΡ
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