Essay
The quantity demanded each week x (in units of a hundred) of the Mikado miniature camera is related to the unit price p (in dollars) by the demand equation .
Is the demand elastic or inelastic when ?
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Is the demand elastic or inelastic when ?
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When is demand unitary? If it is necessary round the answer to two decimal places.
Hint: Solve for p.
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If the unit price is lowered slightly from $17, will the revenue increase or decrease?
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If the unit price is increased slightly from $22, will the revenue increase or decrease?
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Correct Answer:

Verified
Correct Answer:
Verified
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