Economics Assistance

Sheet1

		Qd=500-2P	If Q=0 then P=250
		2P=500-Qd
		P=250-0.5Qd	If P=0 then Q=500
		Q	P	TR=PxQ
		500	0	0
		450	25	11250
		400	50	20000
		350	75	26250
		300	100	30000
		250	125	31250
		200	150	30000
		150	175	26250
		100	200	20000
		50	225	11250
		0	250	0
	Q	P	Elasticity
	500	0	0.00
	450	25	0.11
	400	50	0.25
	350	75	0.43
	300	100	0.67
	250	125	1.00
	200	150	1.50
	150	175	2.33
	100	200	4.00
	50	225	9.00
	0	250	-
	E=|%ΔQ/%ΔP|
	E=|(ΔQ/Q)/(ΔP/P)|
			E=-(ΔQ/ΔP)(P/Q)
			(ΔQ/ΔP)=-2
			E=-(-2)(P/Q)

Demand 500 0 0 250 -300,100 300 300 0 0 100 100 100 100 0 0 200 200

P 500 450 400 350 300 250 200 150 100 50 0 0 25 50 75 100 125 150 175 200 225 250

Total Revenue 500 450 400 350 300 250 200 150 100 50 0 0 11250 20000 26250 30000 31250 30000 26250 20000 11250 0