Question: An electronic store can sell q = 10,000/( p + 50) - 30 cellular phones at a price p dollars per phone. The current price

An electronic store can sell q = 10,000/( p + 50) - 30 cellular phones at a price p dollars per phone. The current price is $150.

(a) Is demand elastic or inelastic at p = 150?

(b) If the price is lowered slightly, will revenue increase or decrease?

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