--%>

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 : Ac illustrate a firm under monopolistic

    illustrate a firm under monopolistic competition?

  • Q : Example of how marginal utility

    An illustration of how marginal utility diminishes takes place when: (1) Todd only requires 180 screws for his bike repair shop however purchases a box of 200 screws. (2) Amy Sue decides she would instead contain 150 hogs than 151 on her pig farm. (3)

  • Q : Problem on price mark up A company

    A company consists $27 per unit in variable costs and $1,000,000 annually in fixed costs. Demand is predicted to be 100,000 units annually. Determine the price if a markup of 40% on total cost is used to determine the price?

  • Q : Elucidate the merits of mixed economy

    Elucidate the merits of mixed economy system?

  • Q : Profit maximization for firm in pure

    Profit maximization for a firm within pure competition arises while: (w) MC = P = MR. (x) MC > MR. (y) AC = P. (z) MC = AC. Can anybody suggest me the proper explanation for given problem regarding Econo

  • Q : What is APC What is APC ? Answer : APC=

    What is APC? Answer: APC= C/Y.The ratio of income to consumption is termed as APC.

  • Q : Meaning of Caveat emptor I have a

    I have a problem in economics on Meaning of Caveat emptor. Please help me in the following question. Caveat emptor signifies: (i) Let the seller beware! (ii) Everything else held steady. (iii) Let things modify if they should. (iv) Charge whatever the market will allo

  • Q : Tacit collusion by oligopolists Tacit

    Tacit collusion through oligopolists is possible when: (w) agreed to by the government. (x) a price leader is visible. (y) the oligopolists succeed in forming a cartel. (z) very few firms control the market. How ca

  • Q : Critics of contestability theory

    Critics of contestability theory argue which: (i) easy entry and exit isn't enough to make sure competitive prices. (ii) even though the firms charged a competitive price for their goods, that they would not have the incentive to make the competitive

  • Q : Resolving principal-agent problems I

    I have a problem in economics on Resolving principal-agent problems. Please help me in the following question. Attempts to resolve the principal-agent problems among stockholders and top corporate managers (that is, CEOs) comprise: (i) Profit-sharing systems for the t