A study of the demand for air travel between two cities depends on the airfare according to the following demand equation. q = 55.6 _ 0.022p a. Find the elasticity when the price is $166.77. E= D (Round to the nearest thousandth as needed.) b. is the demand for airfare elastic or inelastic at this price? The demand for airfare at $166.77 is E. c. Find the price that maximizes revenue. Revenue will be maximized when the price is $1] (Round to the nearest dollar as needed.)