suppose the demand for the IBM personal computer is Q=2400-4p (a) at what price is the price…
suppose the demand for the IBM personal computer is Q=2400-4p(a) at what price is the price elasticity of demand equal to zero?(b) when is the price elasticity of demand equal to 1,whats the quantity being demanded at that point?(c) figure out at what price,the price of elasticity demand is infinite and explain what does infinite price of elasticity demand mean?(d) what is the change of revenue generated by sale when the price elasticity of demand falls from infinite 1?(e)explain how you can account for the” bad” (such as pollution) in analysis of consumer preferences?
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