Question
3.) If the demand function is 12 - p and the supply function is 9 + 0.5p. Find the equilibrium qty and price. Draw the
3.) If the demand function is 12 - p and the supply function is 9 + 0.5p. Find the equilibrium qty and price. Draw the graphs.
1.) The qty demand function is cP7xP3yMMG6G. Find the (1) own price elasticity and (2) the cross price elasticity. Does this equation represent substitutes or complements? Moreover, what type of good is X in relation to income?
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Economics
Authors: R. Glenn Hubbard
6th edition
978-0134797731, 134797736, 978-0134106243
