The demand for kitty litter, in pounds, is lnD(p) = 1, 000 − p + lnm, where p is the price of kitty litter and m is income.
(a) What is the price elasticity of demand for kitty litter when p = 2 and m = 500? ______. When p = 3 and m = 500? _______. When p = 4 and m = 1, 500? _______.
(b) What is the income elasticity of demand for kitty litter when p = 2 and m = 500?________. When p = 2 and m = 1, 000? ______. When p = 3 and m = 1, 500?_______.
(c) What is the price elasticity of demand when price is p and income is m?______. The income elasticity of demand? _______.