Can you please give me a step by step on how to Differentiate Q=11-lnP...apparently it = -1 or something bt how?..or do I really need it for this question...
(b) For the demand function given by: Q = 11- lnP
i) Evaluate the expression for the price elasticity of demand.
ii) What is the price elasticity of demand when P = 1. Briefly comment on your results. [10 marks]
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