Question: (a) If the demand equation is pq = k for a positive constant k, compute the elasticity of demand. (b) Explain the answer to part

(a) If the demand equation is pq = k for a positive constant k, compute the elasticity of demand.
(b) Explain the answer to part (a) in terms of the revenue function

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a Since q kp we have dqdp kp 2 and pq pkp p 2 k Therefore Elast... View full answer

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