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A) Suppose that the monthly demand for housing in Bungoma town is: le 100,000 - 10P where Qp is the quantity demanded and P is the price of the house. Use this function to answe…

A) Suppose that the monthly demand for housing in Bungoma town is: le 100,000 - 10P where Qp is the quantity demanded and P is the price of the house. Use this function to answe…
asked 23.7k views
14 votes
A) Suppose that the monthly demand for housing in Bungoma town is: le

100,000 - 10P where Qp is the quantity demanded and P is the price of the house.
Use this function to answer the following questions:
1) Using the mid-point formula for elasticity, suppose that the initial price is KES.
4000, calculate the price elasticity of demand between a price of KES 5000 and
KES.4000. Provide an intuitive explanation of your answer​

asked
User Dtracers
by
8.2k points

1 Answer

9 votes

Answer:

is this high school work??

Step-by-step explanation:

cause I don't know this

answered
User Aaronmarino
by
8.3k points
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