11. The demand for processed pork in Canada is described by the function D(p) = 286 – 20p¹. Graph thedemand function, compute the elasticity, and graph the elasticity. For what prices is the demand functionelastic and inelastic?12. Show that the general linear demand function D(p) = a – bp, where a and b are positive real numbers, has adecreasing elasticity for 0 ≤p < a/b. Show that for the general linear demand function, E = −1 whenp = a/2b.13. Not all demand functions are linear. Compute the elasticity for the exponential demand functionD(p) =ae, where a and b are positive real numbers.14. Show that the demand function D(p) =a/p', where a and b are positive real numbers, has a constantelasticity for all positive prices.

DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If…

po demand function, compute the elasticity, and graph the elasticity. For what prices is the demand f elastic and inelastic? 2. Show that the general linear demand function D(p) = a - bp, where a and b are positive real numb poroncing octicity for

po demand function, compute the elasticity, and graph the elasticity. For what prices is the demand f elastic and inelastic? 2. Show that the general linear demand function D(p) = a - bp, where a and b are positive real numb poroncing octicity for

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 11P

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Question

11. The demand for processed pork in Canada is described by the function D(p) = 286 – 20p¹. Graph the
demand function, compute the elasticity, and graph the elasticity. For what prices is the demand function
elastic and inelastic?
12. Show that the general linear demand function D(p) = a – bp, where a and b are positive real numbers, has a
decreasing elasticity for 0 ≤p < a/b. Show that for the general linear demand function, E = −1 when
p = a/2b.
13. Not all demand functions are linear. Compute the elasticity for the exponential demand function
D(p) =ae, where a and b are positive real numbers.
14. Show that the demand function D(p) =a/p', where a and b are positive real numbers, has a constant
elasticity for all positive prices.

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