In part qd there is mistake please see this is not p-2 this is p-20 So i clear mention that neglect p-2 Write p-20 is correct one Q2: suppose the demand and supply equation for eggs in market is:Qd= 100-2p;Qs= 10+40pi. Complete the given tableii. Graphically show the equilibriumiii. Find PED: for 0.5 to 1.5 and 2.5 to 1.0iv. What happened to the eggs market if Government increases tax on poultry farm businessand on the other hand consumer decreases the consumption of eggs because ofreeducation in their income level (show and explain graphically)PriceQdQs0.51.0| 1.5| 2.0| 2.5

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Answered: Q2: suppose the demand and supply…

Q2: suppose the demand and supply equation for eggs in market is: Qd= 100-2p; Qs- 10+40p i. Complete the given table ii. Graphically show the equilibrium iii. Find PED: for 0.5 to 1.5 and 2.5 to 1.0

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section: Chapter Questions

Problem 4QP

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Question

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In part qd there is mistake please see this is not p-2 this is p-20

So i clear mention that neglect p-2

Write p-20 is correct one

Q2: suppose the demand and supply equation for eggs in market is:
Qd= 100-2p;
Qs= 10+40p
i. Complete the given table
ii. Graphically show the equilibrium
iii. Find PED: for 0.5 to 1.5 and 2.5 to 1.0
iv. What happened to the eggs market if Government increases tax on poultry farm business
and on the other hand consumer decreases the consumption of eggs because of
reeducation in their income level (show and explain graphically)
Price
Qd
Qs
0.5
1.0
| 1.5
| 2.0
| 2.5

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