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Title: Suppose the current price and quantity of widgets is p = $50 and Q = 125. The demand for widgets is ... Post by: PaulKet on Nov 12, 2017 Suppose the current price and quantity of widgets is p = $50 and Q = 125. The demand for widgets is log-linear and the price elasticity of demand is E = -2. The supply of widgets is perfectly elastic.
a. Derive the equations for the demand and supply of widgets. b. What would be the effect on the equilibrium price and quantity if demand were to increase by 500 widgets? Title: Re: Suppose the current price and quantity of widgets is p = $50 and Q = 125. The demand for widgets ... Post by: unExpected on Nov 12, 2017 Content hidden
Title: Re: Suppose the current price and quantity of widgets is p = $50 and Q = 125. The demand for widgets is ... Post by: PaulKet on Aug 13, 2018 :D Yay, got perfect on my quiz
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