Give: 6P + 12 Q - 1200 = 0
P0=30
Q0=15
1- is it a demand or supplu function? ( hint p=f (Q) )
2- find the slop, give a verbal description then deduce deltaQ/delta P
3-find Q0 when p0=30
4-calculate the point elasticity of demand ( ED ) for P0 = 30
5- give a verbal description for elasticity
6- give a verbal description for the nature elasticity
7- find the approximate percentage change in Qd if price increase by 12% from p0= 30
8- find the approximate percentage change in price if quantity demand increased by 10% from Q=15

Question

Give: 6P + 12 Q - 1200 = 0
P0=30
Q0=15
1- is it a demand or supplu function? ( hint p=f  (Q) )
2- find the slop, give a verbal description then deduce deltaQ/delta P
3-find Q0 when p0=30
4-calculate the point elasticity of demand ( ED ) for P0 = 30
5- give a verbal description for elasticity
6- give a verbal description for the nature elasticity
7- find the approximate percentage change in Qd if price increase by 12% from p0= 30
8- find the approximate percentage change in price if quantity  demand increased by 10% from Q=15