If the demand for In-N-Out Burger is log(Q) = a – b log(P) and if the demand is elastic what can you say about thevalue of b?

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 21SQ: If bus travel is an inferior good, its income elasticity of demand is a. strictly greater than 1. b....
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If the demand for In-N-Out Burger is log(Q) = a – b log(P) and if the demand is elastic what can you say about thevalue of b?

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