Question

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.

Answer 1

Answer:

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Answer 2

Answer:

I DO NOT KNOW

Explanation:

B/C I BLIND