Please answer the questions to the demand & supply functions below: QDX = – 0.50PX + 0.20PY + 0.25A, QSX = – 30 + 0.25PX – 0.25PR + 3.0TK, where goods Y & R are related goods to X through supply or demand, A is advertising related to good X, and TK is a level of technology used in producing good X? Given PY = $25, A = $100, PR = $60, & TK = 15; find QE & PE? At equilibrium, find: EDX, EXY, EA, EXR, & ETK (round to 2 decimals)? If PY increases 10% & A increases 20%, what is the new % change in QDX? What are the relations of goods Y & R to good X (be precise w/ wording)? 3 and 4 are the ones i need help on, if you could solve all of them however id appreciate it.
Please answer the questions to the demand & supply functions below: QDX = – 0.50PX + 0.20PY + 0.25A, QSX = – 30 + 0.25PX – 0.25PR + 3.0TK, where goods Y & R are related goods to X through supply or demand, A is advertising related to good X, and TK is a level of technology used in producing good X? Given PY = $25, A = $100, PR = $60, & TK = 15; find QE & PE? At equilibrium, find: EDX, EXY, EA, EXR, & ETK (round to 2 decimals)? If PY increases 10% & A increases 20%, what is the new % change in QDX? What are the relations of goods Y & R to good X (be precise w/ wording)? 3 and 4 are the ones i need help on, if you could solve all of them however id appreciate it.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 23SQ: If automobiles and gasoline are complements, then their cross-elasticity coefficient is a. strictly...
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Please answer the questions to the
QDX = – 0.50PX + 0.20PY + 0.25A, QSX = – 30 + 0.25PX – 0.25PR + 3.0TK,
where goods Y & R are related goods to X through supply or demand, A is advertising related to good X, and TK is a level of technology used in producing good X?
- Given PY = $25, A = $100, PR = $60, & TK = 15; find QE & PE?
- At equilibrium, find: EDX, EXY, EA, EXR, & ETK (round to 2 decimals)?
- If PY increases 10% & A increases 20%, what is the new % change in QDX?
- What are the relations of goods Y & R to good X (be precise w/ wording)?
3 and 4 are the ones i need help on, if you could solve all of them however id appreciate it.
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