Given the demand equation x5 + 30p = 360, where p represents the price in dollars and x the number of units, determine the value of p where the elasticity of demand is unitary. Price, p = dollars If the current price is 9 dollars and price is increased by 1%, then total revenue will O decrease O increase [-/1 Points] DETAILS Math 110 Course Resources Marginal Analysis & Elasticity Course Packet on elasticity of demand Therefore, demand is O elastic Given the demand equation x = 20 +. 40 p where p represents the price in dollars and x the number of units, determine the elasticity of demand when the price p is equal to $5. O unitary O inelastic Elasticity of Demand = when price is equal to $5 and a small increase in price will result in O little to no change in total revenue. O a decrease in total revenue. O an increase in total revenue