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
Answer: A
Mathematics
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