Calculate demand elasticity at equilibrium:

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 21RQ: What is the formula for the income elasticity of demand?
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ped?

P = 450 – 4Qp
%3D
1
P =Qs + 25
4
Calculate demand elasticity at equilibrium:
1/8
O -1/8
8.
-8
Transcribed Image Text:P = 450 – 4Qp %3D 1 P =Qs + 25 4 Calculate demand elasticity at equilibrium: 1/8 O -1/8 8. -8
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