1
answer
0
watching
239
views
17 Apr 2019
Now assume the following demand equation for product W:
Qdw= 1800- 40Pw +8.6Y -12Px +1.5Pz
If Pw= $18.50, Y= $1000, Px=140, and Pz= 30
A. Estimate the point of price elasticity of the demand for w at the given value for Pw, Y, Px, and Pz Is demand price elastic or price inelastic at this price of $18.50
B. Estimate the income elasticity of demand for W at the give values Pw, Y, Px, and Pz How would you classify product W?
C. Estimate the cross elasticity of demand between w and x at the values for Pw, Y, Px, and Pz. How would you classify products w and x?
D. Estimate the corss elasticity of demand between w and z at the values for Pw Y, Px, and Pz. How would you classify products w and z?
Now assume the following demand equation for product W:
Qdw= 1800- 40Pw +8.6Y -12Px +1.5Pz
If Pw= $18.50, Y= $1000, Px=140, and Pz= 30
A. Estimate the point of price elasticity of the demand for w at the given value for Pw, Y, Px, and Pz Is demand price elastic or price inelastic at this price of $18.50
B. Estimate the income elasticity of demand for W at the give values Pw, Y, Px, and Pz How would you classify product W?
C. Estimate the cross elasticity of demand between w and x at the values for Pw, Y, Px, and Pz. How would you classify products w and x?
D. Estimate the corss elasticity of demand between w and z at the values for Pw Y, Px, and Pz. How would you classify products w and z?
Reid WolffLv2
17 Apr 2019
