a) "Qd=5000-2500P+1200*500+650*55-255*25=634,375-2500P"
b) "Qd(P=125)=634,375-2500*125=321,875"
"Qd(P=155)=634,375-2500*155=246,875"
"El=\\frac{321,875-246,875}{125-155}=-2,500"
c) "El=\\frac{dQ}{dP}*\\frac{P}{Q}=-2,500*\\frac{125}{321,875}=-0.97"
d) It means that the changes in the price on 1% lead to the changes in Q on 0.97% in the opposite direction. Price grows Q decreases and vice versa
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