--%>

Determine price and quantity by elasticity of demand

The price elasticity of demand at a specified price and quantity is demonstrated by the ratio of the relative as: (w) change within quantity demanded over a specified proportional price change. (x) reciprocal of the price elasticity of supply. (y) slope of the demand curve. (z) angles at that demand intersects supply.

Please guys help to solve this problem of Economics with some explanation.

   Related Questions in Microeconomics

  • Q : Illustration of kinked demand curve

    Sarah, Courtney, Carly and Lisa sell shell necklaces. As Lisa lowers her price, Carly, Sarah as well as Courtney lower their price. If Lisa raises her price, Carly, Courtney and Sarah remain their price similar. This interaction is an

  • Q : Determine elasticity of demand for

    When the U.S. price elasticity of demand for gasoline is 1.0, the price elasticity of demand for gas sold through one of several gas stations along a busy highway: (w) less than 1.0. (x) 1.0. (y) greater than 1.0. (z) zero.

    Q : Implication of the law of demand The

    The law of demand implies a relationship which: (i) Apply merely in the market economy. (ii) Needs government enforcement to work. (iii) Is negative among price and quantity demanded. (iv) Applies merely whenever scarcity is cured.

  • Q : Division of labor advantages for workers

    The advantages from the division of labor are improved as workers: (1) Are protected by the barriers which limit the international trade. (2) Who each recognize all facets of production gain an enhanced understanding of the whole project. (3) Constant

  • Q : Key questions in evaluating a research

    Key questions in evaluating a research report: In brief, there are five key questions you, as a consumer of analytical work, should ask yourself as you are evaluating a research report. 1. What is the purpose of th

  • Q : Effect on total revenue by raises price

    A price raise from $6 to $8 would effect in: (1) a decrease in total revenue. (2) an increase in total revenue. (3) no change in total revenue. (4) consumers buying more pizza. (5) pizza parlors selling more pizza.

  • Q : Minimum wage law for poor workers A

    A minimum wage law does NOT make pressures which tend to: (1) benefit high wage workers. (2) cause unemployment among unskilled workers. (3) uniformly help poor workers. (4) increase teenage unemployment. (5) foster discrimination.

    Q : Firms and Transaction Costs An

    An individual or organization which simultaneously purchases low and sells high in various markets is a/an: (i) Angel duster. (ii) Escalator. (iii) Arbitrageur. (iv) Finagler.  (v) Optimizer. Can someone please help me in find

  • Q : Maximize profit by monopolistic

    Monopolistic competitors maximize profit through: (w) adjusting output at a given price. (x) adjusting price for a given output. (y) adjusting output and price. (z) cheating. Can someone explain/help me with best s

  • Q : Maximum consumer surplus A

    A characteristic Hollywood star derives the maximum consumer surplus from: (i) Calvin Klein underwear. (ii) Water. (iii) Mercedes Benz 600SEs. (iv) DeBeers diamonds. (v) Publicity in "The National Enquirer." Can so