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TEST 15 MARKS. l. The beer market in Tanzania is currently at equilibrium selling 10 million bottles per week of Tshs 80 per bottle. It
TEST 15 MARKS. l. The beer market in Tanzania is currently at equilibrium selling 10 million bottles per week of Tshs 80 per bottle. It has been established that a percentage change in price results in a 0.5 percent change in the demand for beer and 0.8 percentage change in its supply, consistent with the laws of demand and supply Determine the demand and supply functions of beer in the market (9 marks)
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