Question: Calculate the long - run equilibrium price and quantity. Based on the information below, answer the following 2 questions. ( Q 8 - Q 9
Calculate the longrun equilibrium price and quantity.
Based on the information below, answer the following questions. QQ Suppose you estimate the following loglog supply and demand curves.
LogLog Supply Function:
LogLog Demand Function:
What is the ownprice elasticity of supply?
What is the demand flexibility?
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