3. (10 points) Assume that the demand for broccoli is given by D(p)=5000500p2, where D(p) is in tons and p is the price of a pound of broccoli. (a) If the current price of broccoli is $2 per pound, how much broccoli will be sold? (b) Compute the elasticity of the demand as a function of price. (c) Is the demand at $2 elastic or inelastic? (d) Find p such that the demand at p is elastic. Give the exact value and an approximation. What does this price mean in terms of revenue