PRICE (RS) QDX = 100-5PX QSX = 30+5PX 5 - - 6 - - 7 - - 8 - - 9 - - 10 - - a. Complete the table and determine equilibrium price and quantity . [3.5]…
BBS Microeconomics for Business · 2081 · Solved Question with Answer
| PRICE (RS) | QDX = 100-5PX | QSX = 30+5PX |
| 5 | - | - |
| 6 | - | - |
| 7 | - | - |
| 8 | - | - |
| 9 | - | - |
| 10 | - | - |
a. Complete the table and determine equilibrium price and quantity . [3.5]
b. What Will be effect on equilibrium price and quantity when demand and supply function increase to Qd'x=120-5Px and Q'sx = 40+5Px, respectively ? [3.5]
c. Compute price elasticity of demand at both equlibrium price and compare the results . [3]