Question: Solve the problem. When a particular commodity is priced at p dollars per unit, consumers demand q units, where p and q are related

Solve the problem. When a particular commodity is priced at p dollars per unit, consumers demand q units, where p and q are related by the equation q+3pq = 40. a. Find the elasticity of demand for this commodity. b. For a unit price of $2, is the demand elastic, inelastic, or of unit elasticity?

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