Suppose a person starts out with $5000, PA-$5, and PB-$2. The Price Elasticity of Demand (ED) is 2. Suppose PB increases to $2.50. What is the value for S? Good A R X 360 W E-2, P, increases to $2.5. Depict MAQ Ep = WAP 1640-Y IC, IC₂ Good B Price P-$2.5 Py=$2 Change in Price-Question W Good B-Market

can u solve point d to i   d. What is the notation used for this limit value? e. Calculate the limit value. f. Find the point elasticity of demand for p = 1 and determine whether demand is (perfectly) inelastic, is (perfectly) elastic or has unit elasticity. g. Use your answer to question f. to approximate the change in demand when the price of 1 is increased by 0.25%. h. What can you derive from your answer to question f. about the change in revenue when the price is slightly increased starting from p=1? i. Find the price level at which the demand has unit elasticity.

If Judy's income elasticity of demand for burgers is negative, then we know that burgers are a(n) [ Select ] good for Judy.                           a. normal b. inferior c. superior

A The table describes the weekly prices and quantity demanded for two goods, A and B, over a three-week period. In the space following the E record what type of elasticity you are calculating. Assume the price and income changes indicated in the table are large. Round numerical answers to two decimal places, if necessary. Don't forget to include the negative sign if appropriate. Week 1 Week 2 Week 3 Qp of Good A 2 3 4 QD of Good B 3 3 2 Goods A and B are Price of Good A $9 $6 $6 with an E Price of Good B $8 $8 $8 Part a) Calculate the numerical value of the appropriate elasticity to determine whether Goods A and B are complements, substitutes, or unrelated. Use 1-2 sentences to explain how you've arrived at this conclusion. Income (Y) $42 $42 $40

a. Explain what “cross-elasticity of demand” is.  b. What is a “substitute good”? Give an example. Does it have a positive or negative cross-elasticity of demand?

The equation for a demand curve has been estimated to be Q = 100 - 10P + 0.5Y, whereQ is quantity, P is price, and Y is income. Assume P = 7 and Y = 50.a. Interpret the equation.b. At a price of 7, what is price elasticity?c. At an income level of 50, what is income elasticity?d. Now assume income is 70. What is the price elasticity at P = 8?

1. Calculate the Price elasticity of demand, & for the following examples: a) Demand is given by Q = 50 – P at the price of $10. b) Demand is given by Q= 100 - P, at the price of $50. %3D c) Demand is given by Q= 25 - .25P, at the price of $40. d) Demand is given by Q = 20 - .1P, at the price of $80. e) Demand is given by Q = 60 – 1/3P, at the price of $60.

If the cross-price elasticity of demand between Good A and Good B is -1.2, the price of Good B increases, and the price elasticity of demand for Good B is elastic, we can expect to see a quantity demanded for Good A. change in the Answer Choices: A. negative, infinite B. negative, one-for-one C. positive, zero D. negative, large E.positive, small

11 BIUA + Arlal I| II1 I I 2 The following questions are about income elasticity of demand. 9) Mr. Leon's income increased by 10%. (His "mommy" gave him a raise in his allowance because he was a "good little boy.") His consumption of Lego's then increased by 25%. Calculate his income elasticity. Does this imply that Lego's are a regular or an inferior product for Mr. Leon? 10) Mr. Mendivil's income increased by 20%. His consumption of pictures of Mr. Leon then decreased by 100%. Calculate the income elasticity of demand for the product. Does this imply that pictures of Mr. Leon are regular or inferior products? 11) Larry the Wild & Crazy Monkey saw a decrease in his income by 25%. With this, his consumption of berries increased by 50%. Calculate his income elasticity of demand. What can we conclude about berries as a consumer good for Larry the Wild & Crazy Monkey? Explain. ip lili 司

Answer this for me mate. Much appreciated.