Question: Given the demand function D(p) = 400 - 3p, Find the Elasticity of Demand at a price of $47 At this price, we would say

Given the demand function D(p) = 400 - 3p, Find the Elasticity of Demand at a price of $47 At this price, we would say the demand is: O Unitary O Elastic O Inelastic Based on this, to increase revenue we should: O Keep Prices Unchanged O Lower Prices Raise Prices

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