question archive The demand for a good in origin is Q = 200-2P_d and the supply for it destination is Q =100+2P_s
Subject:EconomicsPrice:2.88 Bought3
The demand for a good in origin is Q = 200-2P_d and the supply for it destination is Q =100+2P_s.
a. Derive the demand for Importation
b. wile is the price elasticity of demand?
c. If transportation supply is Q = 100 + T, find the equilibrium for transportation
d. Find the equilibrium price and quantity of the good
e. Whets the expenditure in equilibrium?
a. At the equilibrium level, quantity demanded is equal to the quantity supplied.
Demand for importation at the price level $25 is,
b. Price elasticity of demand is,
c. The equilibrium for transportation is determined when the equilibrium demand equal to the given supply function,
d. As derived in the first part, equilibrium price is $25 and equilibrium quantity is 150 units.
e. Equilibrium expenditure is determined when the transportation demand is put in the equilibrium supply function.