Question: 1. Estimate this linear equation when the intercept is 120 and the slope is 2.5. Therefore, the equation for that line is: 2. Suppose

1. Estimate this linear equation when the intercept is 120 and the slope is 2.5. Therefore, the equation for II. Elasticity Coeficient Show your calculations 1. Find the price elasticity of demand of the following

1. Estimate this linear equation when the intercept is 120 and the slope is 2.5. Therefore, the equation for that line is: 2. Suppose that the Y intercept is 12.20 and the slope of the line is 4. Write the equation for this line. 3. Suppose that the slope of the line is -3.5 and the intercept is 220. The equation for this line. 4. Identify the estimated equation based on the data below. Show all your calculations. Data by Year: Year 2001 2002 2003 2004 55 57 59 61 i. Identify the intercept ii. Identify the slope 60 65 70 75 iii. Identify the estimated equation II. Elasticity Coeficient Show your calculations 1. Find the price elasticity of demand of the following demand curve represented in equation (i) when quantity changes from 5 to 6: P=48-3Q 2. Find the price elasticity of the following supply curve represented in equation (ii) to answer questions a and b: 4P = Q a. What is the elasticity of supply as the price rises from 3 to 4? (i) b. What is the elasticity of supply as the price rises from 7 to 8? (ii)

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I 1 The equation for a linear relationship with an intercept of 120 and a slope of 25 is Y 25X 120 2 The equation for a linear relationship with a Yintercept of 1220 and a slope of 4 is Y 4X 1220 3 Th... View full answer

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