=(225-p) X = 7 The demand equation for the Roland portable hair dryer is given as follows where x (measured in units of a hundred) is the quantity demanded per week and p is the unit price in dollars. (0 p 15) (a) Is the demand elastic or inelastic when p = 7? Is the demand elastic or inelastic when p = 12? (b) When is the demand unitary? (Round your answer to two decimal places.) (Hint: Solve E(p) = 1 for p.) p = (c) If the unit price is lowered slightly from $12, will the revenue increase or decrease? (d) If the unit price is increased slightly from $7, will the revenue increase or decrease?