1. A market consists of two individuals. Their demand equations are Q1 = 16-4P and Q2 = 20-2P respectively.
a. What is the market demand equation?
b. At a price of $2, what is the pointpriceelasticity for each person and for the market?

Where Q=number of lunches served and P=price n cents. Compute the pointelasticity of demand for school lunches at a price of 40 cents per lunch.
a = -1.78
b= -.078
c = -262.7
d = 1.78

Demand for DVD rentals at a video store is described by the equation: Q = 4,000 - 500P, where Q denotes the number of DVDs rented per week and P is the rental price in dollars.
a) Determine the pointpriceelasticity of demand at P = $3.00.
b) What is the new pointpriceelasticity if price is raised to P = $4.50?
c) Co

The demand schedule for the product 'xyz' is given below:
Price($) Quantity demanded
3 20
4 15
5 11
6 9
7 7
Task: Based on the above data, solve the questions given below:
Compute the pointpriceelasticity of demand for an increase in the p

The British Automobile Company is introducing a brand new model called the "London Special." Using the latest forecasting techniques, BAC economists have developed the following demand function for the "London Special":
Qd = 1,200,000 - 40P
What is the pointpriceelasticity of demand at prices of:
a. $8000
b. $10,000

Sir/ma'am,
I am having a hard time understanding how to solve the following two quantitative problems. I am supposed to be able to solve for this problem given any set of values. Please feel free to make those up. I am just hoping to understand how to solve this problem if and when it comes up.
See attachment.
Thanks

Inverse, Direct Demand Function, & PointPriceElasticity
Copy and paste the following data into Excel:
a) Run OLS to determine the inverse demand function (P = f(Q)); how much confidence do you have in this estimated equation? Use algebra to then find the direct demand function (Q = f(P)).
b) What is the pointprice elasti

The demand function for gadgets is given by the following formula
Q = 1,000 -10Y - 2 P + 4A
where Q is quantity, Y is income, P is price, and A is advertising.
Currently, Y = 20, P = 30, and A is 15
What is the pointpriceelasticity of demand?
-0.0375
-1.33
-.075
-13.33
-0.75

Please show the work in answering the below questions. Thank you.
1. B. B. Lean's deluxe garment bag sales recovered from 4,800 units to 6,000 units following a price reduction from $140 to $130 per unit. Calculate B. B. Lean's arc priceelasticity of demand for this product.
2. Calculate pointpriceelasticity of demand