Please help with question 12. Thank you! 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) =alp', where a and b are positive real numbers, has a constantelasticity for all positive prices.

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Answered: 12. Show that the general linear demand…

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter7: Analytic Trigonometry

Section7.6: The Inverse Trigonometric Functions

Problem 93E

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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.