Kobe
10-14-2007, 07:17 PM
Ahh my exam is tomorrow and I can't figure out a few things, the first one has to be with elasticity...
Here is the question
Consider the price of elasticity between points A and B equals
A) 10%
B) 1.
C) .4
D) 4.
E) 4%
Now the answer is suppose to be .4 but I have no idea how to get it, any help??
http://img80.imageshack.us/img80/3284/econgraphpe9.png
EDIT: finally figured this one out
10/25 = .4
20/20 = .1 = .4
----------------------------------------------------------------------------------
I also have a question about taxes...
Qd = 45
Qs = 110
Qd = 200 - 2pc
Qs = 20 +2 (Pc+T)
200 - 2pc = 20 + 2Tq (pc-t)
180 +2T = 4PC
Here is what I get lost.. Tax is suppose to equal 10..
Here is another one
Qd = 300 - 2P
Qs = 50 +Ps
Qd - 250 - 50+3P
P = 83.3333
Now taxes..
Qs = 50+Ps
Qd = 300-2(ps+t)
50 + ps = 300 - 2ps - 2t
3ps = 250 -2T
Not exactly sure what to do here to solve the problem..
Ahhh midterm is tomorrow, any help would be great full!
Here is the question
Consider the price of elasticity between points A and B equals
A) 10%
B) 1.
C) .4
D) 4.
E) 4%
Now the answer is suppose to be .4 but I have no idea how to get it, any help??
http://img80.imageshack.us/img80/3284/econgraphpe9.png
EDIT: finally figured this one out
10/25 = .4
20/20 = .1 = .4
----------------------------------------------------------------------------------
I also have a question about taxes...
Qd = 45
Qs = 110
Qd = 200 - 2pc
Qs = 20 +2 (Pc+T)
200 - 2pc = 20 + 2Tq (pc-t)
180 +2T = 4PC
Here is what I get lost.. Tax is suppose to equal 10..
Here is another one
Qd = 300 - 2P
Qs = 50 +Ps
Qd - 250 - 50+3P
P = 83.3333
Now taxes..
Qs = 50+Ps
Qd = 300-2(ps+t)
50 + ps = 300 - 2ps - 2t
3ps = 250 -2T
Not exactly sure what to do here to solve the problem..
Ahhh midterm is tomorrow, any help would be great full!