Find the consumer's surplus at P=2 for the following demand function:   P=8Q-2/3

Consider the inverse demand function P = 45 - 3Q. When P = 29, the elasticity of demand is:

Suppose consumers will demand 40 units of a product when the price is RM12.75 per unit and 25 units when the price is RM18.75 each. Find: The demand function. i) ii) 1) iv) Price per unit when 37 units are demanded Quantity (units) demanded when the price is RM20.00. The equilibrium point if the supply equation is p = q - 0.75

Question #2 Consider the following demand function for frozen dinners where QD is the quantity of frozen dinners demanded per week, P is the price per frozen dinner, PF is the price per fast food meal, Y is the average yearly consumer income, and A is the number of advertisements for frozen dinners.    Demand Function for Frozen Dinners: QD = 1,000 – 10P + 20PF – 0.01Y + A         Suppose that a frozen dinner sells for $4, a fast food meal sells for $6, average yearly consumer income is $50,000, and that there are 20 advertisements for frozen dinners. Calculate and interpret the income elasticity of demand. Calculate and interpret the cross-price elasticity of demand with respect to fast food meals.