Question: The demand function for beer is given below, where p is the retail price and D(p) is the demand in galliens per capita. For the
The demand function for beer is given below, where p is the retail price and D(p) is the demand in galliens per capita. For the demand hancton, find the elastety of demard Efp) for any price p.[Note: You will find, in each case, that dernand is inelastic. This means that taxation, which acts like a price increase, is an ineffective way of discouraging liquer consumption, but is an effective way of raising revenue.]D(p)=9.849p-0.12
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