A consumer has a demand function to purchase a specific product. Qd = 100-10P.
What is the price elasticity of demand for a product with Qd = 100 – 10P?
The point elasticity cannot be found because it is not given to you.
The inverse supply function to StaubAir vacuum cleaner is: P = 150+2Qs.
If the equilibrium market price is $250 per unit, the producer’s surplus will be $250