Problem
The price of a charger is P900 and PC Expression supplies at 9,000 pcs. If the price increases to P1,100 the units for distribution increase to 13,000 pieces. Calculate the price elasticity of supply given the increase. Use one decimal place and do not round off.
What is the price elasticity of demand when the price of a shirt was discounted 20% from P500 which resulted in a quantity demand increase from 5,000 units to 6,000 pieces. Solve up to 4 decimal places. Determine whether the price elasticity of demand is elastic or inelastic.
Assume that a consumer's budget/income is P100 and he can buy two goods, hopia and oranges. If the price of hopia is 10 pesos and the price of orange is 25 pesos, and the consumer decides to buy 3 pieces of oranges, how many pieces of hopia would he buy so his consumption will fall in a budget line? Use one decimal place and do not round off.