question archive Consider two markets
Consider two markets
Subject:EconomicsPrice:2.88 Bought3
Consider two markets. The initial equilibrium for both markets is the same, P=$2.50, and Q=29.0. When the price is $6.75, the quantity supplied of motorcycles is 73.0 and the quantity supplied of pancakes is 101.00. The demand for both goods is the same (for simplicity of analysis). Using the midpoint formula, calculate the elasticity of supply for pancakes.
