Given a demand curve of P = 165 - 6Qd and supply of P = 65 + 5Qs, find the equilibrium price (Pe), AFTER lower input costs have shifted supply by 4 dollars

Suppose the demand curve for a product is given by Q=14-1P+2P s where P is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.20. Suppose P = $0.90. The price elasticity of demand is . (Enter your response rounded to two decimal places.)

Given a demand curve of P = 146 - 7Qd and supply of P = 29 + 6Qs, find the equilibrium price (Pe), AFTER a decrease in the price of complimentary goods has created a shift of 21 dollars.

The demand for product X depends on the price of product X as well as the average household income (Y) according to the following relationship Qdx=800-5P+0.001Y The supply of product X is positively related to own price of product X and negatively dependent upon W, the price of some input. This relationship is expressed as: Qsx= 100+ 45 P-4 W Given that Y = 50,000 and W= 4, what is the 1. Equilibrium price? Number 2. Equilibrium quantity? Number Suppose that income increases to 60,000 and W remains constant. What is the new: 3. Equilibrium price? Number 4. Equilibrium quantity? Number Assuming that income remains constant at 60,000 and W increases to 9, what is the new: 5: Equilibrium price? Number 6. Equilibrium quantity? Number

Suppose the supply and demand curves for a particular product are given by: QS = -20 + 2P QD =100 - 2P where QS and QD are quantities in units and P is the price per unit. (b) Calculate both the demand and supply elasticity around the equilibrium point. [Hint: you can use either the point method or the average arc (midpoint) method.] [5]

The demand for company X's product is given by Qx = 12 – 3Px + 4Py. Suppose good X sells for $3.00 per unit and good Y sells for RM1.50 per unit. Calculate the cross-price elasticity of demand between goods X and Y at the given prices. Are goods X and Y substitutes or complements? What is the own price elasticity of demand at these prices? How would your answers to parts i and iii change if the price of X dropped to RM2.50 per unit?

If E denotes the elasticity of a general supply function, Q = f(P), show that the elasticity of: (1) Q = [f(P)]" is ne (ii) Q = Af(P) is E (ii) Q = A + f(P) is f(P)E λ + f(P)

The demand function for Bulova watches (X) has been estimated to be QX = 1,000 - 1.5PX + 2Y + 1.75Py where Y is income, QX is the quantity demanded of Bulova watches in units, PX is the price per unit of a Bulova watch and PY is the price of a Patek Philippe watch (Substitute). When P = $3, PY = $10 and Y = $20, determine the income elasticity of demand.    a. 0.0026 b. 0.158 c. 0.331 d. 0.038

Every month a certain firm purchases exactly 50 bottles of water to restock its kitchen, regardless of price. Assume that the whole water stock is consumed during the work week and that no extra bottles will be purchased. What is the firm's own price elasticity of demand for this product in absolute value?

Suppose the demand for a product is given by D(p) = -2p+230. A) Calculate the elasticity of demand at a price of $28. Elasticity = (Round to three decimal places.) B) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = $