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

Question 83

Multiple Choice

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 $2/disc. Is the demand elastic or inelastic at this rental price? If the rental price is increased, will the revenue increase or decrease? A) elastic, increase B) inelastic, increase C) elastic, decrease D) inelastic, decrease Currently, the rental price is $2/disc. Is the demand elastic or inelastic at this rental price? If the rental price is increased, will the revenue increase or decrease?


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

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