Question: Working on this for a homework assignment and am not sure how to go about it. Researchers found the demand for cheese in a particular

Working on this for a homework assignment and am not sure how to go about it.

Researchers found the demand for cheese in a particular country for a particular year can be estimated by the implicit equation In q = D - 0.96 In p where p represents the price of a unit of cheese and D represents a constant that can be calculated uniquely for a particular year. Here q represents the annual per capita cheese demand. Answer parts (a) and (b) below. (a) Use implicit differentiation to calculate and interpret the elasticity of demand. Recall that elasticity of demand is E= _ _- q dp Show the first step of implicit differentiation, the equation that results from differentiating each side of the equation. dq dp

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