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help quick plz n this problem, p is in dollars and q is the number of units. Suppose that the demand for a product is
help quick plz
n this problem, p is in dollars and q is the number of units. Suppose that the demand for a product is given by 2p2q=10,000+7000p2. (a) Find the elasticity when p=$50 and q=3502. (Round your answer to four decimal places.) (b) Tell what type of elasticity this is: unitary, elastic, or inelastic. Demand is unitary elastic. Demand is elastic. Demand is inelastic. (c) How would revenue be affected by a price increase? Revenue is unaffected by price. An increase in price decreases revenue. An increase in price increases rovenue Step by Step Solution
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