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The Proprietor of the Showplace, a Video Store, Has Estimated

Question 282

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The proprietor of the Showplace, a video store, has estimated that the rental price p (in dollars) of prerecorded video discs is related to the quantity x rented/day by the demand equation ​ The proprietor of the Showplace, a video store, has estimated that the rental price p (in dollars) of prerecorded video discs is related to the quantity x rented/day by the demand equation ​ ​ Currently, the rental price is $3/disc. Is the demand elastic or inelastic at this rental price? If the rental price is increased, will the revenue increase or decrease? ​ A) inelastic, increase B) inelastic, decrease C) elastic, decrease D) elastic, increase ​
Currently, the rental price is $3/disc. Is the demand elastic or inelastic at this rental price? If the rental price is increased, will the revenue increase or decrease?
​


A) inelastic, increase
B) inelastic, decrease
C) elastic, decrease
D) elastic, increase

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