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OpenStudy (anonymous):
Shark Inc. has determined that demand for its newest netbook model is given by lnq−3lnp+0.005p=7, where q is the number of netbooks Shark can sell at a price of p dollars per unit. Shark has determined that this model is valid for prices p≥100. You may find it useful in this problem to know that elasticity of demand is defined to be E(p)=q'(p/q). How do I find E(p)?
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