Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Jan 2018 My Price 5.00

price elasticity of demand

Suppose the demand for the IBM personal computer is:

Qd= 2400 - 4p

(a) At what price is the price elasticity of demand equal to zero?

(b) When the price elasticity of demand equal to 1, what’s the quantity being demand at that point?

(c) Figure out at what price, the price elasticity of demand is infinite, and explain what does infinite price elasticity of demand mean?

(d) What’s the change of revenue generated by sale when the price elasticity of demand falls from infinite to 1?

(e) Explain how we can account for ‘bads’ (such as pollution) in analysis of consumer preferences.

 
 

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Jan 2018 07:01 PM My Price 5.00

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