Suppose demand for gym memberships in a small rural community is Ga = 360 2P. a) Calculate

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Suppose demand for gym memberships in a small rural community is Ga = 360 2P. a) Calculate the price elasticity ot'demand {or gym memberships when the price is $50. b} Calculate the price elasticity of demand for gym memberships when the price is $100. c) Explain in l sentence why your answers to parts a) and b} are different. Suppose that in addition, the supply of gym memberships in that community is 05 = 60 + P. d} What are the market-clearing price and quantity? e) What is the consumer surplus in this market

Posted Date: Jul 03, 2024 10:22 PM

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Suppose demand for gym memberships in a small rural community is Ga = 360 2P. a) Calculate

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