Question: For the demand function q - D(p) = 482 - p, find the following. a) The elasticity b) The elasticity at p = 109, stating


For the demand function q - D(p) = 482 - p, find the following. a) The elasticity b) The elasticity at p = 109, 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) - b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. E(109) - (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? elastic inelastic unit elasticity c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars)
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