Use the$$ price$-$demand equation

p plus $0\mathrm{.}004$ x equals $30$p$+0\mathrm{.}004$x$=30,$

$0$ less than or equals p less than or equals $300$p$30.$

Find the elasticity of demand when

pequals$=$$$2525.$

If the

$$$$2525$

price is decreased by

$22\%,$

what is the approximate percentage change in$$ demand?

Question content area bottom

Part $1$

The elasticity of demand when

pequals$=2525$

is

$55.$

$($Type an integer or a simplified$$ fraction.$)$

Part $2$

If the price is decreased by

$2\%2\%,$

the demand

increases by

is

decreases by

increases by

approximately

$1010\%.$