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Answer :
The elasticity of demand function for x=f(p) = 190 - 55ln(p) is E(p) = -55/(190 - 55ln(p)).
Elasticity of demand is a measure of the responsiveness of the quantity demanded of a product or service to changes in its price. It is the degree to which the demand for a product changes in response to a change in its price.
To find the elasticity of demand, E(p), we need to differentiate the demand function x = f(p) with respect to p and then multiply it by the ratio of p and x
E(p) = (p/x) * (dx/dp)
Here, the demand function is x = 190 - 55ln(p).
Differentiating this function with respect to p gives
dx/dp = -55/p
So,
E(p) = (p/x) * (dx/dp)
= (p/(190 - 55ln(p))) * (-55/p)
= -55/(190 - 55ln(p))
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