Question: Given the demand equation x = 20 +, where p represents the price in dollars and x the number of units, determine the elasticity ofdemand

Given the demand equation x = 20 +, where p represents the price in dollars and x the number of units, determine the elasticity ofdemand when the price p is ,0 equal to $2. Elasticity of Demand = \\:i Therefore, demand is O elastic O unitary O inelastic when price is equal to $2 and a small increase in price will result in 0 an increase in total revenue. 0 little to no change in total revenue. 0 a decrease in total revenue

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