Question: 3.) Suppose that the demand equation for a certain commodity is q = 180 - p. (a.) Express the elasticity of demand as a function

3.) Suppose that the demand equation for a certain commodity is q = 180 - p. (a.) Express the elasticity of demand as a function of p. (b.) Calculate the elasticity of demand when the price is p = 65. Interpret your answer. (c.) Calculate the elasticity of demand when the price is p (d.) At what price is the elasticity of demand equal to 1? = 115. Interpret your answer.

3.) Suppose that the demand equation for a certain commodity is q=180p. (a.) Express the elasticity of demand as a furnction of p. (b.) Calculate the elasticity of demand when the price is p=65. Interpret your answer. (c.) Calculate the elasticity of demand when the price is p=115. Interpret your answer. (d.) At what price is the elasticity of demand equal to 1

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