Using calculus show that the demand and supply curve have, Ask an Expert

Economics

Demand and supply curves for cigarettes are given by:

$Q_{d} = \frac{128}{p^{1/2}}$ and $Q_{s} = 4P^{2}$

where P is the price of cigarettes in dollars and Q is in millions of cigars

Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9467256

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