Question

Vik and Fleet produce trainers in the sports-shoe market. For one of their main products they have the following demand curves:
Vik PV = 175 _ 1.2QV
Fleet Pf = 125 _ 0.8Q f where P is in Br and Q is in pairs per week.
The firms are curren1sxctly selling 80 and 75 pairs of their products per week respectively.
a. What is the current price elasticity’s for the products?

Answer 1

Explanation:

The firms are curren1sxctly selling 80 and 75 pairs of their products per week respectively.