(a) Find the elasticity.
(b) Find the elasticity when
(c) At
Final Answer: The elasticity when
Step 1 :Given the demand function
Step 2 :The elasticity of demand is a measure of how much the quantity demanded of a good responds to a change in the price of that good. It is calculated as the percentage change in quantity demanded divided by the percentage change in price.
Step 3 :To find the elasticity, we first need to find the derivative of the demand function with respect to price, and then multiply that by the ratio of price to quantity. The derivative of the demand function is
Step 4 :The elasticity of demand is then given by the expression
Step 5 :To find the elasticity when
Step 6 :Final Answer: The elasticity when