Suppose that the supply and demand for lemons is given by the following equations: Qs =...

Question

Question

Suppose that the supply and demand for lemons is given by the following equations:
Qs = -10 + 50p
Qd = 50 - 10p

At the equilbrium, what is the elasticity of demand?

Group of answer choices

-1/4

-1/3

-2/3

-5/4

business economics

Answer 1

Answer #1

At equilibrium! - Demand = Supply Od zos So-lop- Sop-lo top 6o TP:$je equitibium price Q = 50-lop - 50-lox! 10 = 40 equilitio

Answer 2

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