1.4 Luchansky and Monks (2009) estimated that the U.S. demand function for ethanol is Q = p-0.504pg1.269v2.226,...

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1.4 Luchansky and Monks (2009) estimated that the U.S.

demand function for ethanol is Q = p-0.504pg1.269v2.226, where Q is the quantity of ethanol, p is the price of ethanol, pg is the price of gasoline, and v is the number of registered vehicles. What is the elasticity of demand for ethanol? (Hint: See Q&A 3.2.) C

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