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All of the questions are included in the screenshot attached QUESTION 6 Suppose the market has the following demand function: q = Ct p '

All of the questions are included in the screenshot attached

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QUESTION 6 Suppose the market has the following demand function: q = Ct p ' i5 . What is the price elasticity of demand? 0 -af5p"5'1 O 415 O -B O -aq"3'1 QUESTION 7 p Q Use the gure above to answer this question. Suppose you observe demand data from two equilibrium: A and B. The data consist of prices p 1 and p 2 and quanties Q 1 and Q 2. Can you identify the demand curve with these data? 0 Yes O No

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