SD_2010-2011/2 ISL233-M İ KRO İ KT İ SAT-UYGULAMA DERS İ-2 12.10.2010 6. The currency used by the Confederate States of America during its brief existence from 1861 to 1865 has become a collector's item today. The Confederate Currency supply is perfectly inelastic. As the demand for the collectible increases and some of the old currency is destroyed or no longer of value as a collectible, what happens to the market price? 7. The demand for packs of Pokémon cards is given by the equation 500,000 45,000 . D Q P =-At a price of $2.50 per pack, what is the quantity demanded? At $5.00 per pack, what is the price elasticity of demand? 8. The monthly supply of desktop personal computers is given by the equation 15,000 43.75 . S Q P = + At a price of $800, what is the price elasticity of supply? 9. The demand for a bushel of wheat in 1981 was given by the equation 3550 266 =-D Q P . At a price of $3.46 per bushel, what is the price elasticity of demand? If the price of wheat falls to $3.27 per bushel, what
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