Question: 2. Elasticity. Suppose a demand function is given by where p is price in $ and q is demand. (a) Find the demand when

2. Elasticity. Suppose a demand function is given by where p is price in $ and q is demand. (a) Find the demand when the price is $5. 2p + pq = 100, (b) What is the formula for elasticity of demand in terms of p and q? (c) Compute the elasticity of demand when the price is $5.

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