Suppose that the demand equation for a certain commodity is q = a/p m , where a

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Suppose that the demand equation for a certain commodity is q = a/pm, where a and m are positive constants. Show that the elasticity of demand is equal to m for all values of p. Interpret this result.

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Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

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