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    Abdul Samad
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    The document is a student assignment for a microeconomics course. It contains the student's name, roll number, course name, and assignment number. The assignment includes calculating equilibrium price by setting supply and demand equations equal and solving for price. It also includes calculating price elasticity of demand using the formula and values obtained from the equilibrium price calculation.

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    The document is a student assignment for a microeconomics course. It contains the student's name, roll number, course name, and assignment number. The assignment includes calculating equilibrium price by setting supply and demand equations equal and solving for price. It also includes calculating price elasticity of demand using the formula and values obtained from the equilibrium price calculation.

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    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    9 views1 page

    Eco402 Assignment

    Uploaded by

    Abdul Samad
    The document is a student assignment for a microeconomics course. It contains the student's name, roll number, course name, and assignment number. The assignment includes calculating equilibrium price by setting supply and demand equations equal and solving for price. It also includes calculating price elasticity of demand using the formula and values obtained from the equilibrium price calculation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Semester Spring 2012

    Microeconomics (ECO402)
    Assignment No.01

    Name:- Abdul Samad


    Roll No:- bc070200464

    Answer Part A(a):Equilibrium price =

    Qd = Qs
    1900 - 7P = 1300 + 17P
    1900 1300 = 17P + 7P
    24P = 600
    P = 600/24
    P = 25(Equilibrium Price)

    Answer Part A(b):1900 7P = 1900 7(25) = 1725

    Price Elasticity of Demand

    = P/Q x QD/ P
    = 25/ 1725 X (-7)

    = 0.00546 X ( - 7)
    = - 0.038 (Price Elasticity of Demand)

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