An electronic store can sellr

 

cellular phones at a price 'p' dollars per phone. The current price is $150.r
a) Find the elasticity of demand function and write in simplified form. (Show full calculations)r
b) Is demand elastic or inelastic at p = 150? (Show full calculations)r
c) If the price is lowered slightly, will revenue increase or decrease?r

Transcribed Image Text:

q=[10,000+ (p+50)]- 30 q=[10,000+ (p+50)]- 30