Assume that the demand curve be given as q ap-alphamrho, Ask an Expert

Economics

Q1. At price equivalent to 14, two units are demanded. The slope of demand curve is -3. Find out the equation of demand curve.

Q2. All along the demand curve, total revenue is always constant. Illustrate that ed = 1.

Q3. Assume that the initial price is 8, and quantity demanded is 6. As price increase to 10, the quantity demanded drops to 4. Determine e_d.

Q4. Assume that the demand curve be given as q = Ap^-αm^ρ, where A, α, β are constants. Determine the price elasticity and income elasticity.

Q5. A market consists of two consumers where they demand q₁ and q₂, in such a way that:
q = q₁ + q₂.

a) Determine the price elasticity of market demand.

b) What happens if there are ‘n’ consumers?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M912434

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