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Category > Economics Posted 17 May 2017 My Price 6.00

The market demand and supply

The market demand and supply functions for pizza are:  QD = 25,000 - 1,500P and QS = 2,500P - 15,000.

 

  1. Calculate the equilibrium price and quantity that will prevail under a completely free market. (10 points)

 

 

  1. Calculate the price elasticities of supply and demand at the equilibrium values. (10 points) 

 

 

  1. Calculate the consumer surplus in the market for pizza.(5 points)

Answers

(15)
Status NEW Posted 17 May 2017 03:05 AM My Price 6.00

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