Question: 5. Given the Demand Function: D(p)=2504p2 a) Find the Elasticity of Demand at a price of $4. b) At this price, we would say that

5. Given the Demand Function: D(p)=2504p2 a) Find the Elasticity of Demand at a price of $4. b) At this price, we would say that the demand is inelastic, elastic, or unitary? c) Based on this, to increase revenue we should raise prices, lower prices, or keep the prices unchanged

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