Econ Homework :D

Px₁ = 17 | Qdx₁ = 3,700 | Qsx₁ = 7,000
Px₂ = 13 | Qdx₂ = 4,100 | Qsx₂ = 9,000

I₁ = 14,000
I₂ = 17,000

Py₁ = 11
Py₂ = 9

Solve:

1. Solve for Price Elasticity of the demand for x₁, is it elastic, inelastic, etc.

2. Solve for Income Elasticity of the demand for x.

3. Solve for the Cross Price Elasticity of the demand for x (relative to the price of y).

4. What is the relationship between x and y.

5. Solve for the Price Elasticity of the supply for x.

6. What type of good is x with reference to income?

7. If the firm would want to increase revenue, what should be the optimal price?

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so ito na ung hw :))

pag may corrections pacomment na lang :>

hulaan nyo kung sino ako >:) :))

Due sa Thursday, August 26, 2010 :))
para sa mga hindi alam (like me) :))