For the demand function q = D(p) = 4 , nd the following. (:1 + 7) a) The elasticity b) The elasticity at p = 5. 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) E) a) Find the equation for elasticity. 4P E(P) - p+7 b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. 5 E(5) = a (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? VA. elastic B. inelastic C. unit elasticity c) The value(s) of for which total revenue is a maximum (assume that is in dollars). $D (Round to the nearest cent as needed. Use a comma to separate answers as needed.) For the demand function q = D(p)=1f256 p, nd the following. a) The elasticity b) The elasticity at p =116, 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) <:> 3) Find the equation for elasticity. p b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. 29 E{116) = E {Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic. or does it have unit elasticity? -~_V inelastic unit elasticity elastic c) Find the value(s) of p for which total revenue is a maximum {assume that p is in dollars). $D (Round to the nearest cent. Use a comma to separate answers as needed.)