Question: For the demand function q=D(p)=700/(p+4)^4 , find the following. a) The elasticity b) The elasticity at p=7, stating whether the demand is elastic, inelastic or

For the demand function q=D(p)=700/(p+4)^4 , find the following. a) The elasticity b) The elasticity at p=7, 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)

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