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 ?

?

__________

?

Is the demand elastic or inelastic when ?

?

__________

?

When is demand unitary? If it is necessary round the answer to two decimal places.

?

Hint: Solve  for p.

?

p = __________

?

If the unit price is lowered slightly from $18, will the revenue increase or decrease?

?

__________

?

If the unit price is increased slightly from $24, will the revenue increase or decrease?

?

__________



What will be an ideal response?


inelastic; elastic; 20; increase; decrease

Mathematics

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