Question: For the demand function q = D(p) = 324 - p, find the following. a) The elasticity b) The elasticity at p = 115, stating

For the demand function q = D(p) = 324 - p, find the following. a) The elasticity b) The elasticity at p = 115, 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. E(p) =0 b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. E(115) = (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? unit elasticity O inelastic O elastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars). $ (Round to the nearest cent. Use a comma to separate answers as needed.)

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