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.
Q = 10P^-0.5Y^0.75
(I) calculate the price elasticity of demand for the product.
(ii) calculate the income elasticity of demand.
Answers
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
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
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