C webassign.net/web/Student/Assignment-Responses/submit?dep=29230575&tags=autosave#question4907434_6 0/1 Points] DETAILS PREVIOUS ANSWERS Math 110 Course Resources - Marginal Analysis & Elasticity Course Packet on elasticity of demand Given the demand equation p + = 16, 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 $4. Elasticity of Demand = Enter a fraction, integer, or exact decimal. Do not approximate. Therefore, demand is O elastic O inelastic O unitary when price is equal to $4 and a small increase in price will result in O an increase in total revenue. O little to no change in total revenue. O a decrease in total revenue. Submit