A country that is the major supplier of a certain commodity wishes to improve its balance-of-trade position
Question:
A country that is the major supplier of a certain commodity wishes to improve its balance-of-trade position by lowering the price of the commodity. The demand function is q = 1000/p2.
(a) Compute E( p).
(b) Will the country succeed in raising its revenue? 24. Show that any demand function of the form q = a/pm has constant elasticity m.
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Related Book For 
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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