Demand and supply curves for cigarettes are given by:
\(Q_{d} = \frac{128}{p^{1/2}}\) and \(Q_{s} = 4P^{2}\)
where P is the price of cigarettes in dollars and Q is in millions of cigars
Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities?