Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 31CTQ: Economists define normal goods as having a positive income elasticity. We can divide normal goods...
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Question
please sir solve question 8
![□
If you have demand function
@d_
when.
20-2P₁ +3P₂ +4Ps + 2y
P₁: price of good (1), and 12 and for the price of other goods
and y incom
A- Find reduce form when P₂ = 1 and P₂ = 3 Y = 100
B- Find The slope demand function
2- If you have supply function
L
Затир, бори
A- Find reduce supply function when Pn = 30
B. Find the slope of supply
function
from
and find Equilibrium
14. If the price of P23 increase from 3 tolo from eq (1)
find the New Equilibrium
- find The Cross price elasticity of demand en
interpretate the result
on pa Equilibrium, and
7 from Dand 2 Calculate Consumer and producer
Surplus
18- If U =
1 = C² C²y find demand function on Crando,
and when Px = 2 and Py = 3 and I = 2
and I = 200 find
the Equilibrium.
@_when from @ find the
Expenditure.
quantities
that minimize](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F838af69d-3a19-420a-bee5-abdb5aad8c35%2F3bf3719d-02d9-47c1-95a1-b7b921b7fcda%2Fpt0gj4t_processed.png&w=3840&q=75)
Transcribed Image Text:□
If you have demand function
@d_
when.
20-2P₁ +3P₂ +4Ps + 2y
P₁: price of good (1), and 12 and for the price of other goods
and y incom
A- Find reduce form when P₂ = 1 and P₂ = 3 Y = 100
B- Find The slope demand function
2- If you have supply function
L
Затир, бори
A- Find reduce supply function when Pn = 30
B. Find the slope of supply
function
from
and find Equilibrium
14. If the price of P23 increase from 3 tolo from eq (1)
find the New Equilibrium
- find The Cross price elasticity of demand en
interpretate the result
on pa Equilibrium, and
7 from Dand 2 Calculate Consumer and producer
Surplus
18- If U =
1 = C² C²y find demand function on Crando,
and when Px = 2 and Py = 3 and I = 2
and I = 200 find
the Equilibrium.
@_when from @ find the
Expenditure.
quantities
that minimize
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