i need in marginal analysis. and i need in words. not handwritten What is the price elasticity of demand (include negative sign if negative)?Please round your answer to the nearest hundredth.What is the price elasticity of supply?Please round your answer to the nearest hundredth. Assume that the demand curve D(p) given below is the market demand for widgets:Q = D(p)= 2941 – 23p, p>0Let the market supply of widgets be given by:Q = S(p) = - 4+ 8p, p> 0%3D%3Dwhere p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded andsupplied at a given price.What is the equilibrium price?Please round your answer to the nearest hundredth.What is the equilibrium quantity?Please round your answer to the nearest integer.

Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Assume that the demand curve D(p) given below is the market demand for widgets: D(p) 2941 - 23p, p > 0 Let the market supply of widgets be given by: Q = S(p) = - 4+ 8p, p > 0 |3D where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? Please round your answer to the nearest hundredth.

Assume that the demand curve D(p) given below is the market demand for widgets: D(p) 2941 - 23p, p > 0 Let the market supply of widgets be given by: Q = S(p) = - 4+ 8p, p > 0 |3D where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? Please round your answer to the nearest hundredth.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

i need in marginal analysis. and i need in words. not handwritten

What is the price elasticity of demand (include negative sign if negative)?
Please round your answer to the nearest hundredth.
What is the price elasticity of supply?
Please round your answer to the nearest hundredth.

Assume that the demand curve D(p) given below is the market demand for widgets:
Q = D(p)
= 2941 – 23p, p>0
Let the market supply of widgets be given by:
Q = S(p) = - 4+ 8p, p> 0
%3D
%3D
where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and
supplied at a given price.
What is the equilibrium price?
Please round your answer to the nearest hundredth.
What is the equilibrium quantity?
Please round your answer to the nearest integer.

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