Homework Answers
Part A) option A) 1
Elasticity of supply =( P/Q)* dQ/dP
Slope of supply curve = .5 = dP/dQ
So at A, e =( 2/4)*(1/.5)
= .5/.5 = 1
Part B) option B)
as productive resource rise, then more of both goods can be produced, hence PPC shifts outwards
Add Answer to:
1. Part A)
1. Part B)
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15.
Refer to the accompanying table, calculate the price elasticity of
demand for erasers if the price of erasers decreases from $2.5 to
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8:31 CH Th 6 30 thg 7 @ 88% Calibri Regular (T 11 в ц А. 4 15. Refer to the accompanying table, calculate the price elasticity of demand for erasers if the nrice of eracers decreases from $2 5 to $1 using the midpoint method. Price of Quantity Demanded Quantity Demanded...
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13. How much is the price elasticity of supply if the supply
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14. Consider the demand for good E. If the number of
substitutes for good E decreases, will the demand become more
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15. Refer to the accompanying table, calculate the price
elasticity of demand for erasers if the price of erasers decreases
from $2.5 to $1 using the midpoint method.
Price of Erasers Quantity Demanded Quantity Demanded
of Erasers of Pencils
$.50 10 12
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