Question: Given the demand e uation + 1 = 32, where re resents the rice in dollars and x the number of units, determine the elasci

Given the demand e uation + 1 = 32, where re resents the rice in dollars and x the number of units, determine the elasci ofdemand when the rice is e ual q P 4 P P P P P q to $24. Elasticity of Demand = \\:l Therefore, demand is O inelastic O elastic O unitary when price is equal to $24 and a small increase in price will result in 0 little to no change in total revenue. 0 a decrease in total revenue. 0 an increase in total revenue

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