Question

what is elasticity at Price 5/3 when demand curve is D(p)=10-3p

Answer 1

As per formula, eD = -b(p/q) = bp/(a-bp);

We already have D(p) = 10-3p; therefore, further calculation at price = 5/3 will be eD = -1.

It can be easily made out that elasticity at price (5/3) when demand curve is D(p) = 10-3p will be at unity.

In short, it is unitary!