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The demand for flash drives is qd=100-p+ln(m),where p is the price of a drive and m is income.
a. Find the elasticity of demand for flash drives when p=2 and m=500. Now find the elasticity of demand for flash drives when p=3 and m=500.
b. What is the income elasticity of demand for flash drives when p=2 and m=500?
c. What is the price elasticity of demand when price is p and income is m? what is the income elasticity of demand when price is p and income is m?
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