Graph linear demand functions, which represent (i) an elastic function; (ii) a unit elastic function; and (iii) an inelastic function?

Graph linear supply functions, which represent (i) an elastic function; (ii) a unit elastic function; and (iii) an inelastic function.

Suppose that the demand for sweatshirts at the university bookstore is given by: P = 40 – 0.2Q A) Using the point elasticity method, price elasticity of demand at a price of $8 is  B) Is the demand for sweatshirts elastic or inelastic at the price of $8?

am. 111.

The inverse demand function for a product is defined as: Px = -0.5 Qx + 4. what is the slope and the midpoint elasticity of demand respectively? Hint: to calculate draw a table or draw the demand curve. O-0.5, -0.6 O-0.5, -0.5 O-0.5, +0.6 O-0.5, +0.5

Suppose the demand curve for a good is P = 10 - 2Q. Drawing the demand line and by calculating the point elasticity of demand, explain for which region of prices the demand will be a) Elastic b) Unit elastic c) Inelastic

Suppose the cross-price elasticity of demand between DVDs at Amazon.com and DVDs at Rakuten.com is 3.5. Based on this information, predict what happens when Amazon.com lowers its DVD prices by 10 percent. The quantity of DVDs demanded on Amazon.com will decrease by 35 percent. The quantity of DVDs demanded on Amazon.com will increase by 35 percent. The quantity of DVDs demanded on Rakuten.com will decrease by 35 percent. The quantity of DVDs demanded on Rakuten.com will increase by 35 percent.

The demand equation is . x=-3/4p+10​  Compute the elasticity of demand and determine whether the demand is elastic, unitary, or inelastic at p=30.

For each demand function, find an expression for the price elasticity of demand. 1. D(p)=60−p2. D(p) = 40p^−23. D(p)=(p+2)^−1

Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) increases by 39 percent. The income elasticity of demand for this brand of car is (Enter your response rounded to two decimal places and include a minus sign if appropriate.)