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Homework answers / question archive / Consider the market for laptop computers
Consider the market for laptop computers. The demand for laptops is Q=1800−3P. Suppose the supply of laptops is given by Q=−200+2P.
a. What is the equilibrium price of laptops?
b. What is the equilibrium quantity of laptops?
c. What is the price elasticity of demand at the equilibrium price and quantity?
d. What is the price elasticity of supply at the equilibrium price and quantity?
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