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The demand for a product is Q=100-4P+3Px and supply is Q³ =10+2P, where Q is the quantity of the product in thousands of
Posted: Sun Jul 03, 2022 1:00 pm
by answerhappygod
- The Demand For A Product Is Q 100 4p 3px And Supply Is Q 10 2p Where Q Is The Quantity Of The Product In Thousands Of 1 (30.59 KiB) Viewed 16 times
- The Demand For A Product Is Q 100 4p 3px And Supply Is Q 10 2p Where Q Is The Quantity Of The Product In Thousands Of 2 (30.59 KiB) Viewed 16 times
The demand for a product is Q=100-4P+3Px and supply is Q³ =10+2P, where Q is the quantity of the product in thousands of units, P is the price of the product, and Px is the price of another good. When Px = $40, the equilibrium price of the product is $and the equilibrium quantity is thousand units. (Enter your responses as whole numbers.) At the equilibrium price and quantity, the price elasticity of demand for the product is (Enter your answer as a real number rounded to 2 decimal places Don't forget a negative sign if appropriate) Demand is At the equilibrium price and quantity, the price elasticity of supply for the product is (Enter your answer as a real number rounded to 2 decimal places. Don't forget a negative sign if appropriate) The cross price elasticity of demand for the product at the equilibrium point is (Enter your answer as a real number rounded to 2 decimal places. Don't forget a negative sign if appropriate.)