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ECO401 Assignment No 1, Fall 2014,Solutions and Discussions Due Date: Nov-27, 2014
Important announcement, Assignment # 01 ECONOMICS (ECO401)
This is to inform that Assignment No. 1 will be opened on November 20, 2014 and due date of assignment submission will be November 27, 2014.
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2, 000 – 4p = 200 + 800p
2, 000 – 200 = 800p + 4p
1, 800 = 804p
P = 1, 800 / 804
p = 2.23
Qs = Qd (Market Equilibrium)
200+800P = 2000-400P
400P+800P = 2000-200
mine is also 1.5 and 1, 400.
now part b ?
hmm part 1 to sahi ha 1.5 and 1400 now part 2 ....
any one is here to tell me how we can calculate price elasticity of demand and price elasticity of supply of airline?
i can't understand which data will be put in the formula of price elasticity of demand and price elasticity of supply?
Urwa khan sis see the handout the formula of price elasticity of demand and price elasticity of supply are required then u easy solve this question .....
but how we can find change in quantity and price? here only one value of price and quantity.
but here is one thing in question "at equilibrium price and quantity." its mean here is no need to find cange in quantity and price, just put these values which we find from 1st qtn as market clearing quantity and price.
I can't understand this even. Applying same value in both formula doesn't make sense to the question.
Have you figured it out ?
P €d=dQ/dP×P/Q =-0.4285
salam bro... ya " delta Q over delta P" kasy find out kia .... mean kon kon c value put ki hain is main