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8. Find the point elasticity of demand, given Q = k/p^n, where k and n are positive constants. (a) Does the elasticity depend on the

8. Find the point elasticity of demand, given Q = k/p^n, where k and n are positive constants.

(a) Does the elasticity depend on the price in this case?

(b) In the special case where n = 1, what is the shape of the demand curve? What is the point elasticity of demand?

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