14.000 An electronic store can sell - - 34 cellular phones at a price p dollars per phone. The current price is $151 (p-42) (a) is demand elastic or inelastic at p = 151? (b) If the price is raised slightly, will revenue increase or decrease? (a) is the demand elastic or inelastic at p = 151? (Type an integer or a decimal rounded to three decimal places as needed.) O A Inelastic, because E(p)= when p = 151, which is greater than 1. B. Inelastic, because E(P) = when p = 151, which is less than 1. OC. Elastic, because E(P) = OD. Elastic, because E(P) = when p = 151, which is less than 1. when p = 151, which is greater than 1. 14,000 An electronic store can sell q = (p-42) - 34 cellular phones at a pricep dollars per phone. The current price is $151. (a) Is demand elastic or inelastic at p= 151? (b) If the price is raised slightly, will revenue increase or decrease? (b) If the price is raised slightly, will revenue increase or decrease? I O A. Increase, because the demand is Elastic. B. Decrease, because the demand is Elastic. C. Decrease, because the demand is Inelastic. D. Increase, because the demand is Inelastic