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Question 1, 3.7.1 Part 4 of 4 For the demand function $q = D(p) = 496 - p$, find the following. a) The elasticity b) The elasticity at $p = 85$, 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) $E(p) = \frac{496 - p}{496 - p}$ b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity $E(85) = \frac{85}{411}$ (Simplify your answer. Type an integer or a fraction.) Is 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). $248.00 (Round to the nearest cent. Use a comma to separate answers as needed.)

          Question 1, 3.7.1
Part 4 of 4
For the demand function $q = D(p) = 496 - p$, find the following.
a) The elasticity
b) The elasticity at $p = 85$, 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)
$E(p) = \frac{496 - p}{496 - p}$
b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity
$E(85) = \frac{85}{411}$ (Simplify your answer. Type an integer or a fraction.)
Is 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).
$248.00
(Round to the nearest cent. Use a comma to separate answers as needed.)

$Question 1, 3.7.1 Part 4 of 4 For the demand function q = D(p) = 496 - p, find the following. a) The elasticity b) The elasticity at p = 85, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars) E(p) = (496 - p)/(496 - p) b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity E(85) = (85)/(411) (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? elastic unit elasticity inelastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars). 248.00 (Round to the nearest cent. Use a comma to separate answers as needed.)$

Added by Morgan S.

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