CM: Economics??
Can someone please help me with this microeconomic questions. I really will appreciate your guys help.
1. How can I get the price elasticity of demand between:
Example: P=$ 25 and P=$ 20
2. How can I get the price elasticity of supply between:
Example: P=$ 10 and P=$ 8
3. Suppose the price elasticity of demand for farm products is enalastic. If the federal government wants to follow policy of increasing income for farmers, what type of programs will the government enact??
Again thanks a lot for everyone who is helping.
Answers and Views:
Answer by chance006
Questions 1 & 2 you need the Q that corespondes with P.
3. Subsidies would allow the farmer to produce more and maintain prices therefore receiving more income.
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