1. The demand for processed pork in Canada is described by the function D(p) = 286 20p¹. Graph the demand function, compute the elasticity, and graph the elasticity. For what prices is the demand function elastic and inelastic?

2. Show that the general linear demand function D(p) = a bp, where a and b are positive real numbers, has a decreasing elasticity for 0 p < a/b. Show that for the general linear demand function, E = 1 when p = a/2b.

3. Not all demand functions are linear. Compute the elasticity for the exponential demand function D(p) =aebp, where a and b are positive real numbers.

4. Show that the demand function D(p) =a/pb , where a and b are positive real numbers, has a constant elasticity for all positive prices.