Question
Please help with the following assignment question Economics research is more difficult than conventional sciences. Discuss four (4) reasons in support of the given statement.
Please help with the following assignment question
Economics research is more difficult than conventional sciences. Discuss four (4) reasons in support of the given statement.
2.2 You are given the following demand function: Q = -1/2P + 60. At what price is total revenue maximized?
2.3 Read the following information to answer the questions that follow:
The market for bananas is given by the following equations:
P = 100 - 2.5Qd
P = Qs
2.3.1 What is the price elasticity of the supply of bananas?
2.3.2 Evaluate the market for bananas at a price of 20 and discuss whether there will be an equilibrium or not.
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