Any help would be HUGELY helpful!!!
Assume the demand for a product q1 is a function of its own price (p1) and another productís price (p2):
q1 = 10p1^-1p2^0.5
(a) Calculate the partial derivatives of the function for both prices.
(b) Using the result obtained in part (a), calculate the own price elasticity of demand.
(c) At what value of p1 is the own price elasticity unit elastic?
(d) Calculate the cross-price elasticity of demand. Is the other good a complement or a substitute? How can you tell?
Please help me........My brain hurts!!!