The demand curve for a good is Q= 1000-2p squared
What is the elasticity at the point
p=$10.00 and Q=800?
Demand curve is as follows -
Q = 1,000 - 2p2
Calculate the -
= dQ/dp = d(1,000 - 2p2)/dp = -4p
p = 10
So,
= -4p = -4 * 10 = -40
Calculate the elasticity of demand -
Elasticity of demand =
Elasticity of demand = (-40) * (10/800) = -400/800 = -0.500
The elasticity of demand is -0.500
The demand curve for a good is Q= 1000-2p squared What is the elasticity at the...
Calculate the elasticity of demand, if the demand function is Q 120-8p+ 32Y, at the point where p 14 and Q10 The elasticity of demand is e11.2-(Enter your response rounded to one decimal place and include a minus sign) Calculate the elasticity of demand, if the demand function is Q-20p The elasticity of demand is ε Ξ | |. (Enter your response rounded to one decimal place and include a minus sign)
uppose the demand curve for a product is given by Q = 18 - 2P+1PS where is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.80. Suppose P 5050. The price elasticity of demand is -0.05. (Enter your response rounded to two decimal places) The cross-price elasticity of demand is 0.14. (Enter your response rounded to two decimal places.) Suppose the price of the good, P goes...
The demand function of a good is Q = 100 – 2p. What is the elasticity at the point p=10 and Q=800?
. of ber of registered vehicles. What is the elasticity demand for ethanol? (Hint: See Q&A 3.2.) 1.5 The demand curve for a good is Q = 1,000-2p2 What is the elasticity at the point p 10 and Q 800? C 1.6 Which section of a straight-line demand curve is elastic? *1.7 According to Duffy-Deno (2003), when the price of broadband access capacity (the amount of infor- mation one can send over an Internet connection) increases 10%, commercial customers buy...
suppose the demand curve for a product is given by Q=10-2P+Ps1,where P is the price of the product and Ps is the price of a substitute good. the price of the substitute good is $2.00.a)suppose P=$1.00, what is the price elasticity of demand?what is the cross- price elasticity of demand?b)suppose the price of the good, P, increases to $2.00. Now what is the price elasticity of demand, and what is the cross-prices elasticity of demand?
The coconut oil demand function (Bushena and Perloff, 1991) is Q = 1,200 – 9.5p + 16.2pp +0.2Y, where Q is the quantity of coconut oil demanded in thousands of metric tons per year, p is the price of coconut oil in cents per pound, pp is the price of palm oil in cents per pound, and Y is the income of consumers. Assume that p is initially 50 cents per pound, pp is 23 cents per pound, and Q...
Suppose the demand curve for a product is given by Q = 15 − 1P + 2P(subscriptS) where P is the price of the product and P(subS) is the price of a substitute good. The price of the substitute good is $2.70. Suppose P = $1.00. The price elasticity of demand is _________ (two decimal places) The cross-price elasticity of demand is ____________ (two decimals) Suppose the price of the good, P, goes to $1.60. Now the price elasticity of...
The coconut oil demand function (Bushena and Perloff, 1991) is Q = 1,200 – 9.5p+ 16.2p, +0.2Y, where Q is the quantity of coconut oil demanded in thousands of metric tons per year, p is the price of coconut oil in cents per pound, Po is the price of palm oil in cents per pound, and Y is the income of consumers. Assume that p is initially 65 cents per pound, p, is 31 cents per pound, and Q is...
Demand is given by Q(p) = 530-2p. What is the price elasticity of demand when p=100? p=200? Please show work
The demand curve for an industry's product is given by the equation Q。 32-2P (P is measured in S) At what price will the elasticity of demand be equal to 1 in absolute value? (a) $6 (b) $7 (c) $8 (d) $9