- Marginal Analysis & Elasticity Course Packet on elasticity of demand Given the demand equation p + = 48, 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 $42. Elasticity of Demand = X Therefore, demand is O elastic O unitary O inelastic when price is equal to $42 and a small increase in price will result in O little to no change in total revenue. O an increase in total revenue. O a decrease in total revenue