(Answered) Elasticities of demand anbspif the quantity demanded 600 -

Management Studies

Elasticities of Demand.

A. If the quantity demanded = 600 - 0.75 P Price - $220. Is demand elastic or inelastic at this price?

B. If the quantity demanded for product W is 190 units when the average weekly income is $880, and if the quantity demanded is 155 units when the average income is $1,000.

C. Assume that when the price of good S is $16 per unit, the quantity demanded of product M is 92 units per week, and if the price of S is $12 per unit, the quantity demanded of M is 130 units. How would you classify good S and M based on your result?

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