,000 An electronic store can sell q=- (p-43) +38 cellular phones at a price p dollars per phone. The current price is $106. (a) Is demand elastic or inelastic at p = 106? (b) If the price is lowered slightly, will revenue increase or decrease? B. Elastic, because E(p) = 1.254 when p = 106, which is greater than 1. C. Elastic, because E(p) = when p=106, which is less than 1. OD. Inelastic, because E(p)= when p=106, which is less than 1. (b) If the price is lowered slightly, will revenue increase or decrease? OA. Decrease, because the demand is Elastic. OB. Increase, because the demand is Inelastic. OC. Decrease, because the demand is Inelastic. OD. Increase, because the demand is Elastic.