Please help with your knowledge on the problem. My goal is to learn the material, but if even if you can't help with the final answer. So all input is welcome. Thank you!

Let P = 53-Q be a consumer's long-run (inverse) demand curve for gasoline, and P= 103-2Q be the consumer's short-run (inverse) demand curve, where P is the price of gasoline in dollars, and Q is gallons consumed per month. Given this:

(a)What is the consumer's present consumption of gasoline per month, given the current price is $3.0 per gallon?

(b)What is the consumer's short-run demand elasticity for gasoline, evaluated at the current price and consumption level?

(c)What is the consumer's short-run consumption level for gasoline if a tax is imposed which raises the price of gasoline to $3.50 per gallon?

(d)What is the consumer's long-run demand elasticity for gasoline, evaluated at the current price and consumption level?

(e)What is the consumer's long-run consumption level, if a tax is imposed which raises the price of gasoline rises to $3.5 per gallon?

... Q1 = original quantity demanded Q2 = new quantity demanded P1 = Original ... Ep=-1.00 Absolute value of elasticity is 1, arc price elasticity of demand is unit ...

... (thetimes100, 2009) We can show this in a simple formula: Price elasticity demand = percentage change in quantity demanded divided by percentage change in the ...

... It is calculated by using the formula: price elasticity of demand= percentage change in quantity demanded divided per percentage change in price. ...

... In economics, the price elasticity of demand (PED) is an elasticity that measures the responsiveness of the quantity demanded of a good to its price. ...

Calculating price and elasticity of demand. Suppose that your demand schedule for cell phone applications is as follows: Quantity Demanded per Year Quantity ...