Newest questions and responses by arep
  1. economics

    suppose the demand curve for a product is given by Q=10-2P+Ps1,where P is the price of the product and Ps is the price of a substitute good. the price of the substitute good is $2.00. a)suppose P=$1.00, what is the price elasticity of demand?what is the

    asked on April 2, 2012
  2. economics

    suppose15 percent increase in the price of airlines causes a 10 percent decline in the quantity demanded, what is the elasticity of demand for airlines?

    asked on April 2, 2012