Question: For the demand function q equals Upper D left parenthesis p right parenthesis equals StartRoot 412 minus p EndRoot q=D(p)= 412p, find the following. a)

For the demand function q equals Upper D left parenthesis p right parenthesis equals StartRoot 412 minus p EndRoot

q=D(p)=

412p, find the following.

a) The elasticity

b) The elasticity at pequals

=78

78, stating whether the demand iselastic, inelastic or has unit elasticity

c) Thevalue(s) of p for which total revenue is a maximum(assume that p is indollars)

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