Question: Given the price-demand equation p + 0.01x = 50 (A) Express the demand A as a function of the price p. (B) Find the elasticity

Given the price-demand equation
p + 0.01x = 50
(A) Express the demand A as a function of the price p.
(B) Find the elasticity of demand, E(p).
(C) What is the elasticity of demand when p = $10? If this price is decreased by 5%, what is the approximate change in demand?
(D) What is the elasticity of demand when p = $45? If this price is decreased by 5%, what is the approximate change in demand?
(E) What is the elasticity of demand when p = $25? If this price is decreased by 5%, what is the approximate change in demand?

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