7,000 An electronic store can sell q= +38 cellular phones at a price p dollars per phone. The current price is $106. (p-43) (a) Is demand elastic or inelastic at p = 106? (b) If the price is lowered slightly, will revenue increase or decrease? (a) Is the demand elastic or inelastic at p = 106? (Type an integer or a decimal rounded to three decimal places as needed.) OA. Inelastic, because E(p)= OB. Elastic, because E(p)= OC. Elastic, because E(p)= D. Inelastic, because E(p)= when p=106, which is greater than 1. when p 106, which is greater than 1. when p= 106, which is less than 1. when p 106, which is less than 1.