Answer to Question #202732 in Macroeconomics for kashif

Question #202732

    I.         Given Q = 500 – 3P + 0.02Y

Where P = 25, Y = 750

Find a) Price Elasticity of Demand   b) Income Elasticity of Demand



1
Expert's answer
2021-06-06T20:24:02-0400

Price elasticity is "-" 0.067 and income elasticity is 0.13.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS