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In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand function p^2 + 2p + q = 9 at p = 2. (b) How will a price increase affect total revenue? Since the demand is elastic, an increase in price will increase the total revenue. Since the demand is unitary, there will be no change in the revenue with a price increase. Since the demand is inelastic, an increase in price will increase the total revenue. Since the demand is elastic, an increase in price will decrease the total revenue. Since the demand is inelastic, an increase in price will decrease the total revenue. Need Help? Read It Talk to a Tutor HARMATHAP12 11.5.006.MI. In this problem, p is in dollars and q is the number of units. Suppose that the demand for a product is given by 2p^2q = 10,000 + 7000p^2. (a) Find the elasticity when p = $50 and q = 3502. (Round your answer to four decimal places.) (b) Tell what type of elasticity this is: unitary, elastic, or inelastic. Demand is unitary elastic. Demand is elastic. Demand is inelastic. (c) How would revenue be affected by a price increase? An increase in price increases revenue. An increase in price decreases revenue. Revenue is unaffected by price.

          In this problem, p is in dollars and q is the number of units.
(a) Find the elasticity of the demand function p^2 + 2p + q = 9 at p = 2.

(b) How will a price increase affect total revenue?
Since the demand is elastic, an increase in price will increase the total revenue.
Since the demand is unitary, there will be no change in the revenue with a price increase.
Since the demand is inelastic, an increase in price will increase the total revenue.
Since the demand is elastic, an increase in price will decrease the total revenue.
Since the demand is inelastic, an increase in price will decrease the total revenue.

Need Help? Read It Talk to a Tutor

HARMATHAP12 11.5.006.MI.

In this problem, p is in dollars and q is the number of units.
Suppose that the demand for a product is given by 2p^2q = 10,000 + 7000p^2.
(a) Find the elasticity when p = $50 and q = 3502. (Round your answer to four decimal places.)

(b) Tell what type of elasticity this is: unitary, elastic, or inelastic.
Demand is unitary elastic.
Demand is elastic.
Demand is inelastic.

(c) How would revenue be affected by a price increase?
An increase in price increases revenue.
An increase in price decreases revenue.
Revenue is unaffected by price.

In this problem, p is in dollars and q is the number of units.
(a) Find the elasticity of the demand function p^2 + 2p + q = 9 at p = 2.

(b) How will a price increase affect total revenue?
Since the demand is elastic, an increase in price will increase the total revenue.
Since the demand is unitary, there will be no change in the revenue with a price increase.
Since the demand is inelastic, an increase in price will increase the total revenue.
Since the demand is elastic, an increase in price will decrease the total revenue.
Since the demand is inelastic, an increase in price will decrease the total revenue.

Need Help? Read It Talk to a Tutor

HARMATHAP12 11.5.006.MI.

In this problem, p is in dollars and q is the number of units.
Suppose that the demand for a product is given by 2p^2q = 10,000 + 7000p^2.
(a) Find the elasticity when p = 50 and q = 3502. (Round your answer to four decimal places.)

(b) Tell what type of elasticity this is: unitary, elastic, or inelastic.
Demand is unitary elastic.
Demand is elastic.
Demand is inelastic.

(c) How would revenue be affected by a price increase?
An increase in price increases revenue.
An increase in price decreases revenue.
Revenue is unaffected by price.

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