Question: I need an answer for question three and four 3. On the basis of the equilibrium price and quantity in Example 4, calculate the point

I need an answer for question three and four 3. On

I need an answer for question three and four

3. On the basis of the equilibrium price and quantity in Example 4, calculate the point elasticity of demand |8di| (for i = l, 2). Which market has the highest and the lowest demand elasticities? 4. If the cost function of Example 4 is changed to C = 20 +150 + Q2 (0) Find the new marginal-cost function. (b) Find the new equilibrium quantities. (Use fractions.) (c) Find the new equilibrium prices. (d) Verify that the second-order sufficient condition is met

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