Discuss the price elasticity of demand
Determine the price elasticity of demand for the following demand functions: 1. Q = 5 - ln(P) for P=8 2. Q = 2000 - 0.5P^3 for P=15 (0.5 multiplied by p cubed) 3. Q = (12-P)^2 (12-P) squared for P=10 4. P= 2/Q for P=1
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Suppose the depreciation rate is 10%. Create a table showing the steady state capital per worker, consumption per worker or the output per worker for savings rates of 0%, 10%, 20%, 30%....all the way to 100%.
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Determine the price elasticity of demand for the following demand functions: Q = 2000 - 0.5P^3 for P=15 (0.5 multiplied by p cubed)
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