Question

The equation for a demand curve is P=2/Q. What is the elasticity of demand as price falls from 5 to 4? What is the elasticity of demand as the prices falls from 9 to 8? Would you expect the answers to be the same? Why/why not?

Answer #1

. If the equation for a demand curve is
P=45-3Q. What is the elasticity in moving from a quantity of 5 to a
quantity of 6?
4. The equation for a demand curve is P=4/Q.
What is the elasticity of demand as price falls from 5 to 4?
5. The equation for a supply curve is 2P=Q.
What is the elasticity of supply as price rises from 3 to 4?
6. CenturyLink Field has 80,000 seats. What is
the shape...

1.A demand function given by: Q = 240 ‒ 3P. What is the price
elasticity of demand when the price is P = $10? You will have to
use the point elasticity formula. The price elasticity of demand at
this price is ___________
2.Consider the same demand equation, Q = 240 ‒ 3P. If a firm
sells at the unit elastic price on this demand curve, what is the
total revenue it will receive? The total revenue received at this...

The demand curve is P=2-4Q. If we know that price elasticity
e=1, what are P and Q?

For the demand curve Q=50−P, what is the own-price elasticity of
demand when P=16 2/3 (that is, 50/3)? Is demand elastic, inelastic,
or unit elastic at that point?
a) -0.5, inelastic
b) -1, unit elastic
c) -0.5, elastic
d) 33.3, inelastic
e) 33.3, elastic

how
do you draw the demand curve q=250-10p
calculate the price elasticity of demand at prices of $5, $10, and
$15 to show how it changes as you move along this linear demand
curve

Demand is rep as: q= (100- p)^2
Determine the price elasticity of demand at $30 and explain what
you think about setting the price at $30. Would you change the
price to maximize revenue?

Discuss why you might use a constant elasticity demand curve to
calculate consumer surplus changes from a project. If you are given
an elasticity estimate of -0.5 and a point such as Q =2, P=$9. What
is the equation for the demand function?

Suppose the demand curve for a product is given by the equation
Qd = 30/P. Compute the quantities demanded at prices of
$1, 2, 3, 4, 5, and 6. Graph the demand curve. Use the arc method
to calculate the price elasticity of demand between $1 and $2, and
between $5 and $6. How does this demand curve compare to the linear
demand curve?

. What is the relationship between price elasticity and position
on the demand curve? For example, as you move up the demand curve
to higher prices and lower quantities, what happens to the measured
elasticity? How would you explain that?

Suppose that the demand equation: P = 6 – Q and supply equation:
P = Q.
a. Calculate the price elasticity of demand at
equilibrium.
b. Calculate the equilibrium price and quantity, and consumer
surplus and producer surplus.
c. Suppose government imposes a unit tax of $1 on producers. Derive
the new supply curve and also calculate the new equilibrium price
and quantity.
d. Calculate tax revenue and the deadweight loss of this tax.

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 4 minutes ago

asked 9 minutes ago

asked 31 minutes ago

asked 45 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago