- Marginal Analysis & Elasticity Course Packet on elasticity of demand Given the demand equation p + 2 = 24, 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 $9. Elasticity of Demand = p/24-p X Your answer cannot be understood or graded. More Information Therefore, demand is O unitary O elastic inelastic when price is equal to $9 and a small increase in price will result in a decrease in total revenue. little to no change in total revenue. O an increase in total revenue. X