Homework answers / question archive / Assume the market demand for Chicken may be written as Q = 90 - 4p + 0

Assume the market demand for Chicken may be written as Q = 90 - 4p + 0

Economics

Share With

Assume the market demand for Chicken may be written as Q = 90 - 4p + 0.6Y + 2pb, where Y refers to the income and pb refers to the price of beef. Assuming that chicken and beef both sell for $3, and income is $60, calculate the price elasticity, cross price elasticity and income elasticity for wheat.