Market demand is given as Qd = 200 – 4P. Market supply is given as Qs = 6P. What would result if the market price were $30

50. Market demand is given as QP = 200 - 3P. Market supply is given as QⓇ = 2P + 100. If price increases from $40 to $45, what is the price elasticity of demand? a. 0.6 b. 0.7 C. 1.1 d. 1.8

Consider a market where the market demand is given by P = 600 - 3Q and the market supply is given by P = 100 + 2Q. Suppose the government imposed a $50-per-unit tax. How much of the per-unit tax would be paid by the sellers and how much by the buyers?

1. Suppose market demand is given asQd= a-bp and market supply is given asQs= c+dp and then find the following
   • Equilibrium price
   • Equilibrium quantity
   • Price elasticity of demand at equilibrium
   • Price elasticity of supply at equilibrium