econ487 hw1 excel solu.xlsx - Demand Curve Q = 4(1/3 P NOTE looking at the demand curve shows that if P then the quantity demand falls by(1/3 Hence th

# econ487 hw1 excel solu.xlsx - Demand Curve Q = 4(1/3 P NOTE...

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Demand Curve Q = 4 - (1/3) P NOTE: looking at the de then the quantity deman for a change in P is (-1/3 Inverse Demand Curve Individual P = 12- 3 Q ∆Q/∆P = -0.3333333 MC = 2 Quantity Demanded Price TR MR Elasticity 0 12 0 1 9 9 9 -3 2 6 12 3 -1 3 3 9 -3 -0.3333333 4 0 0 -9 0 Inverse Market Demand Market Demand Curve: Q = 400-(10 P = 12- 3/100 Q Marginal Revenue MR = (12- 3/100 Q) - (3/100)Q Quantity Demanded Price TR MR MC 0 12 0 12 2 10 11.7 117 11.4 2 20 11.4 228 10.8 2 30 11.1 333 10.2 2 40 10.8 432 9.6 2 50 10.5 525 9 2 60 10.2 612 8.4 2 70 9.9 693 7.8 2 80 9.6 768 7.2 2 90 9.3 837 6.6 2 100 9 900 6 2 110 8.7 957 5.4 2 120 8.4 1008 4.8 2 130 8.1 1053 4.2 2 140 7.8 1092 3.6 2 150 7.5 1125 3 2 160 7.2 1152 2.4 2 170 6.9 1173 1.8 2 180 6.6 1188 1.2 2 190 6.3 1197 0.6 2

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200 6 1200 0 2 210 5.7 1197 -0.6 2 220 5.4 1188 -1.2 2 230 5.1 1173 -1.8 2 240 4.8 1152 -2.4 2 250 4.5 1125 -3 2 260 4.2 1092 -3.6 2 270 3.9 1053 -4.2 2 280 3.6 1008 -4.8 2 290 3.3 957 -5.4 2 300 3 900 -6 2 310 2.7 837 -6.6 2 320 2.4 768 -7.2 2 330 2.1 693 -7.8

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• Spring '19
• Jacob LaRiviere
• Supply And Demand, inverse market demand, demand curve shows

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