Question
1 Consider the following linear demand curve: Qd= 25 -3P. What does the absolute value of the price elasticity equal if P =5? 2 Consider
1 Consider the following linear demand curve: Qd= 25 -3P. What does the absolute value of the price elasticity equal if P =5?
2 Consider the following linear demand curve: Qd= 51 -3P. What does the absolute value of the price elasticity equal if P =5?
3 Consider the following linear demand curve: Qd= 20 -0.25P.How much is the market willing to pay for the 5th unit?
4 Consider the following linear demand curve: Qd= 20 -0.25P.What is the total amount the market is willing to pay for the 8 units?Assume a continuous demand function.
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Macroeconomics Theories and Policies
Authors: Richard T. Froyen
10th edition
013283152X, 978-0132831529
