Question: Hello teacher! I don't quite remember how this problem was approached , could use some help thanks! For the demand function q = D(p) =

Hello teacher! I don't quite remember how this problem was approached , could use some help thanks!

For the demand function q = D(p) = 316 - p, find the following. a) The elasticity b) The elasticity at p = 111, 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) a) Find the equation for elasticity. E(P) = nline b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. 5S E(111) = (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? line O unit elasticity O elastic O inelastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars). (Round to the nearest cent. Use a comma to separate answers as needed.)

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