CLCULATE THE PED.ALSO , IF THIS IS HAPPENING WHILE THE PRICE OF SAMSUNG TV IS INCRESING FROM LE 500 TO LE 600.THEN CALCULATE THE CROSS-PRICE ELASTICITY. Equations: Demand ,supply & the Market Equilibrium I- Use the following generalized linear demand relation to answer the following questions: Qx = 680 - 9 Px + 0.006 M – 4 PR 1- where M is ...

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Nov 07, 2012 · Price elasticity of demand Price elasticity of demand is the efect a price change has upon the quiantity demanded. A good can be elastic if the change in price is greater than the change in quiantity demanded. So this means that a good is elastic when a little change in price, has a big effect in the quantity demanded.

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ADVERTISEMENTS: The following are the main factors which determine the price elasticity of demand for a commodity: 1. The Availability of Substitutes 2. The Proportion of Consumer’s Income Spent 3. The Number of Uses of a Commodity 4. Complementarity between Goods 5. Time and Elasticity. Determinant # 1. The Availability of Substitutes: Of all the […]

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The price of elasticity of demand for cigarettes was inelastic. The percentage change in quantity demanded was 8 percent while the percentage change in price was 22.7 percent. The percentage change in price was still not enough to make those addicted to smoking quit smoking.

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The new Samsung Galaxy S7 will have an elastic price elasticity of demand because it will not be a necessity. This means that any changes in its price will result into a reduction in the quantity demanded and purchased. Considering other factors other than price, the quantity of Samsung Galaxy S7 demanded and purchased may increase following an ...

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Jan 18, 2017 · A) the cross-price elasticity between tortilla chips and dips is 0.8, so the two are substitutes. B) the cross-price elasticity between tortilla chips and dips is -0.4, so the two are