How do you show that the price elasticity of demand is a constant if the demand function is log-linear? To show this, how do you differentiate the log-linear demand curve to determine dQ/dp, and substitute that expression into the definition of the elasticity of demand?
There is an explanation in the textbook but I don't get it at all for the log-linear demand curve, although I get it for the exponential demand curve. How do you differentiate the log-linear demand curve? Can you please explain each step in detail? Because the steps are already in textbook but I don't understand it even as I reread it multiple times.