1_ Given the demand equation p + 6 32, where p represents the price in dollars and x the number of units, determine the elasticity of demand when the price p is equal to $28. Elasticity of Demand = Therefore, demand is elastic \\ inelastic "' unitary when price is equal to $28 and a small increase in price will result in \" an increase in total revenue. " a decrease in total revenue. little to no change in total revenue