Question

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

Answer #1

In another condition when price rises from 10 you 15 and quantity decrease from 150 to 100.

So %∆ P = 10-15/10×100 = (-)50%

%∆Q = 150 - 100/150× 100 = 33.3%

So price elasticity of Demand = 33.3/50 = 0.66.

Suppose that the demand curve for wheat is Q=100−10p and the
supply curve is Q=10p. The government imposes a price ceiling of
p=3
i) Describe how the equilibrium changes. ii) What effect does
this price ceiling have on consumer surplus, producer surplus, and
deadweight loss?

The difference between price elasticity of demand and income
elasticity of demand is that
A. income elasticity of demand examines how an individual's
income changes when prices change and the price elasticity of
demand examines how quantity demand changes when price changes.
B. income elasticity measures the responsiveness of income to
changes in supply while price elasticity of demand measures the
responsiveness of demand to a change in price.
C. income elasticity refers to a horizontal shift of the demand...

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?

Draw the demand curve of Apple and calculate the price
elasticity for their main product or service. Determine if they
have an elastic or inelastic demand curve.

1/Consider the demand curve Q=100-50P. Draw the demand curve and
indicate which portion of the curve is elastic, which portion is
inelastic, and which portion is unit elastic.
2/
Suppose the demand for crossing the Golden Gate Bridge is given
by Q=10,000 – 1000P.
If the toll (P) is $3, how much revenue is collected? (15
points)
What is the price elasticity of demand at this point? (10
points)
Could the bridge authorities increase their revenues by changing
their price?...

. 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?

As you move up along the demand curve, the price elasticity of
demand:
Select one:
a. Becomes more inelastic
b. Is unchanged
c. Becomes infinite
d. Becomes more elastic
e. Falls to zero

assume that a monopolist faces a demand curve Q =200 - 10P, and
marginal cost of $15. Compared with the perfectly competitive
market's price, assuming the same demand function and costs hold
true, what is the Monopolist's mark up? What is the deadweight loss
from Monopoly pricing

2. Calculate price elasticity of demand, cross price elasticity
of demand and income price elasticity of demand. Then indicate
whether the alternative good is a complement or substitute. P =10,
PA=20, and I =100.
a) Q = 500 - 3P + 4PA + I (I stands for income)
b) Q = 100 - 0.1P - 0.5PA - 0.2I

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?

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