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  1. (Elasticity) Using the following demand function

                          Q_d (P)=2457-37P

 

  1. (3 points) Calculate the point price elasticity of demand at P = 47

 

 

 

  1. (3 points) Does demand follow the law of demand at this price? EXPLAIN

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  1. (Elasticity) Using the following demand function

                 Q_d (P)=20,000e^(-P)

 

  1. (3 points) Calculate the point price elasticity of demand at P =

 

 

  1. (3 points) Does demand follow the law of demand at this price? EXPLAIN
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                              Q_d (P)=20,000e^(-P)

 

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  1. (3 points) Does demand follow the law of demand at this price? EXPLAIN
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  1. (3 points) Does demand follow the law of demand at this price? EXPLAIN

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