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yr the demand function q = D(p) = /414= p, find the following. The elasticity ) The elasticity at p = 103, stating whether the demand is elastic, inelastic or has unit elasticity | The value(s) of p for which total revenue is a maximum (assume that p Is In dollars) . Find the equation for elasticity. eek | ) Find the elasticity at the given price, stating whether the demand Is elastic, inelastic or has unit elasticity. =(103) = | (Simplify your answer. Type an integer or a fraction.) s the demand elastic, inelastic, or does it have unit elasticity? elastic : unit elasticity inelastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars). Ss (Round to the nearest cent. Use a comma to separate answers as needed.) ID: 3.7.7 A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x) = 710 - 17x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f). a) Find the elasticity. Eels: 2] b) At what price is the elasticity of demand equal to 1? ee (Round to the nearest cent as needed.) c) At what prices is the elasticity of demand elastic? OA. Greater than 21 O B. Less than 21 C. Prices are elastic at all values. D. Prices cannot be elastic in this case d) At what prices is the elasticity of demand inelastic? A. Prices cannot be inelastic in this case O B. Prices are inelastic at all values C. Less than 21 D. Greater than 21 e) At what price is the revenue a maximum? (Round to the nearest cent as needed. Use a comma to separate answers as needed.) f) At a price of 23 per cookie, will a small increase in price cause the total revenue to increase or decrease? Increase Decrease ID: 3.7.13-BE