Your physics homework can be a real challenge, and the due date can be really close - feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world's newest programming trends.
Get a free quote.
Check the website
for updates.
Receive your completed assignment.
Easy as ABC!
Just provide us with clear instructions and wait for the completed assignment.

Answer on Economics of Enterprise Question for vanessa

Question #5919

Suppose the equation for demand can be expressed as P=120-1.25Q. The equation for supply can be expressed as p=1.75Q
A. What is the Quantity demanded at a price of $80
b. What is is the price elasticity of demand between the price of $80 and $60
c. Find the equilibrium price and quantity

Expert's answer

A. Qd = (120 - P)/1.25 = (120 - 80)/1.25 = 32
b. Q(80) = 32, Q(60) = 48
E
= (32 - 48)/80*140/(80 - 60) = -16/8*14/20 = -1.4 - demand is elastic
c. Qd =
Qs,
(120 - P)/1.25 = P/1.75,
1.4*(120 - P) = P,
2.4P = 168,
P =
70
Q = 70/1.75 = 40

Comments

No comments

Leave a comment

Related Questions

Link to us

Share with friends

Get homework help with Assignment Expert:
free questions
Questions and Answers
approved by clients
Thanks so much! My professor was so impressed with the assignment you’ve solved for me… You’ve followed all my wishes and even proceeded with better ideas. That’s what I call a really good job! And the price was pretty reasonable. I’ve never tried services like this before. But now it will be my usual practice. And even more I will use exactly your service! And I’ll tell all my friends to do so. They’ll check it out for sure. Cheers!
Sarah, Ottawa, Canada on February 2010
solving policy
solving policy
satisfaction
guarantee
paypal
Pay us safely via PayPalPayPal
We deliver professional assignment and homework help for students in USA, UK, Canada, Australia, AE and all over the world.
Terms and Conditions | Privacy Policy | Service
© 2014 BrainRouter LTD. All rights reserved.