Let P denote the price of a product that is produced using a single input whose price is W. The demand function for the product is 11eb6466_bb46_e82f_8137_fd4eefefaa22_SM3055_11 , and the supply function is 11eb6466_bb47_0f40_8137_07045dcdbaa4_SM3055_11 if P W and Q s = 0 if P W. How does the equilibrium price depend on W What is the elasticity of the equilibrium price P with respect to W when W = 1

Microeconomics 2nd Edition by Douglas Bernheim

النسخة 2الرقم المعياري الدولي: 978-0071287616

النسخة 2الرقم المعياري الدولي: 978-0071287616

تمرين 4

Let P denote the price of a product that is produced using a single input whose price is W. The demand function for the product is

, and the supply function is

if P W and Q s = 0 if P W. How does the equilibrium price depend on W What is the elasticity of the equilibrium price P with respect to W when W = 1

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The equilibrium price is when ...