Question: For the demand function q = D(p) = 319 -p, find the following. a) The elasticity b) The elasticity at p = 112, stating whether

For the demand function q = D(p) = 319 -p, find the following. a) The elasticity b) The elasticity at p = 112, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars) a) Find the equation for elasticity. p E(p) = 319 - p b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. E(112) = (Simplify your answer. Type an integer or a fraction.)
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