Ammongas has two types of customers: Farmers and utilities. The two groups have the following demand conditions: Farmers P = 5,000,000 - 140,000 * Q farmers Utilities P = 6,000,000 - 180,000 * Q utilities where Q is the number of plants sold and P is the price. Make a brief analysis of the demand of the two customer groups.

Ammongas has two types of customers: Farmers and utilities. The two groups have the following demand conditions: Farmers P = 5,000,000 - 140,000 * Q farmers Utilities P = 6,000,000 - 180,000 * Q utilities where Q is the number of plants sold and P is the price. Make a brief analysis of the demand of the two customer groups.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 12P

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