the inverse demand and supply functions for a commodity are given by
px=-1/4qx+25/4 and qx=2px-5 respectively
1,determine the equilibrium price and quantity.
2,determine the price elasticity of demand at the equilibrium.
3,what is the state of the market at the price level px=4.
Answers
Answered by
13
Answer:
Sorry don't know may someone else help you
Answered by
7
Answer:
p=5 and q=5
Explanation:
because at equilibrium
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