AP Notes, Outlines, Study Guides, Vocabulary, Practice Exams and more!

elasticity assignment

Wait just a minute here...

In order to access these resources, you will need to sign in or register for the website (takes literally 1 minute!) and contribute 10 documents to the CourseNotes library. Until you contribute 10 documents, you'll only be able to view the titles and some teaser text of the uploaded documents. There are 100,000+ essays, DBQs, study guides, practice tests, etc. that are only available to members that contribute. So what are you waiting for?

Get started right now!

Subject: 
Economics
Rating: 
0
No votes yet
Tags: 
Consumer theory
Elasticity
demand
Cross elasticity of demand
Price elasticity of demand
Income elasticity of demand
Price elasticity of supply
supply

Surname 6 Name Instructor Course Date Elasticity and Inelasticity Question 1 Initial price of business loans (P1) =3% New price of business loans (P2) =5% Initial demand for loans (Q1) =1000 applicants New demand for loans (Q2) =500 applicants Calculating business loans price elasticity of demand (P.ED). in general, ===-0.6667 ===0.5 Therefore, ==-1.3333 Question 2 Initial iPhone 6 price (P1)=$899.99 New iPhone 6 price (P2)= $649.99 Initial quantity demanded (Q1)= 2000000 New quantity demanded (Q2)= 3000000 To calculate iPhone 6?s price of elasticity of demand (P.E.D), the fomula applied in question 1 is used. Therefore, ===0.4 Similarly, ===--0.3226 Therefore, ==-1.2394 Question 3 Initial quantity (Q1)=6 New quantity (Q2)=7 Initial price of gas (P1)= $4.15

Need Help?

We hope your visit has been a productive one. If you're having any problems, or would like to give some feedback, we'd love to hear from you.

For general help, questions, and suggestions, try our dedicated support forums.

If you need to contact the Course-Notes.Org web experience team, please use our contact form.

Need Notes?

While we strive to provide the most comprehensive notes for as many high school textbooks as possible, there are certainly going to be some that we miss. Drop us a note and let us know which textbooks you need. Be sure to include which edition of the textbook you are using! If we see enough demand, we'll do whatever we can to get those notes up on the site for you!