close
    1. Home
      2. ›
    2. Social Science
      3. ›
    3. Economics
      4. ›
    4. price elasticity when Q=500-3P+2Pr+0.1M when Pr=20, M=6,000, P=10
    price elasticity when Q=500-3P+2Pr+0.1M when Pr=20, M=6,000, P=10

    Answer this
    0  Views: 1045 Answers: 1 Posted: 13 years ago
    Tags: elasticity
    Comment this question

      1 Answer

      you didn't specify what M and Pr mean.


      if they are unrelated to P then the elasticity is 0.0003 = 0.03%

      13 years ago. Rating: 0
      Comment this answer

        medic58

        Sorry...P=price, Pr = competitors price, M = consumer income.
        commented 13 years ago
        Volcane

        In that case the answer above should be the right one.
        commented 13 years ago


        Did this answer your question? If not, then ask a new question.

        Top contributors in Economics category

         
        ROMOS
        Answers: 36 / Questions: 0
        Karma: 1950
         
        Benthere
        Answers: 1 / Questions: 0
        Karma: 1230
         
        Colleen
        Answers: 45 / Questions: 0
        Karma: 1185
         
        jhharlan
        Answers: 27 / Questions: 0
        Karma: 1050
        > Top contributors chart

        Unanswered Questions

        okfunsocial
        Answers: 0 Views: 6 Rating: 0
        C54 uknet
        Answers: 0 Views: 8 Rating: 0
        okfunsocial
        Answers: 0 Views: 4 Rating: 0
        Hi88 – Sân chơi cá cược trực tuyến uy tín
        Answers: 0 Views: 10 Rating: 0
        Kwin
        Answers: 0 Views: 13 Rating: 0
        au88pw
        Answers: 0 Views: 19 Rating: 0
        8xbet coso
        Answers: 0 Views: 34 Rating: 0
        go8archi
        Answers: 0 Views: 30 Rating: 0
        > More questions...
        505314
        questions
        748551
        answers
        845132
        users