Asked by Andrew

Suppose you decide to produce a product and you discover it has a demand function given by;
Q = 10P^-0.5Y^0.75
(I) calculate the price elasticity of demand for the product.
(ii) calculate the income elasticity of demand.
Answered by Anonymous
Suppose you decide to produce a product and you discover it has a demand function given by;
Q = 10P^-0.5Y^0.75
(I) calculate the price elasticity of demand for the product.
(ii) calculate the income elasticity of demand.
Respond to this Question
Answered by HK
Ed=10
Answered by Naloombwa Moobola
Ed = 5