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dQ/dP = -0.003333
P/Q = 113.6364
Ep = -0.378788
dQs/dPv = -0.005
Pv/Qs = 45.45455
Ec = -0.227273
3 income elasticity of demand Thechange in the demand for samsung phones resulting from
Ei = (dQ/dI)*(I/Q) This indicates that demand for samsung phones are insenstiv
(dQ/dI) = -1
(I/Q) = 0.454545
Ei = -0.454545
or samsung phones is inelastic. That means consumers are insensitive to price change in samsung phones.
Cost Q
32.64403 1999.834
e highlighted
p = 9000- 2Qd
Substituting value of P we get,
Qd =-8000
dTC/dQs = 4Qs+5000
at equilibrium Qs=Qd