QUESTION 14 points Demand for a product is related to its price in dollars per unit) by the equation 150-30 da Find the price elasticity of demand E when the price is 527 per unit is dead inelastic unit elasticar asoch dip Q Due to a sudden short, the price of the product from is increased to 56 per unit is to derrand inelasticiteit aarthi 2 mars Explain what the result actually means in ms of changes in price anderand (1) To the toolba presa ALT.1 Cor ALT-10 M B US Paragraph AM - N t cho 9 C 1 +] 15 BR 38 . Ch. XI Cart a E X 5 & 7 3 4 C 9 6 8 o W E R T Y U o S D F H V B N M V 3 Alt Poup PrtSc Ctrl QUESTION 14 Demand for a product is related to its price (in dollars per unit) by the equation p = 150-30 6 points a. Find the price elasticity of demand E= when the price is $27 per unit is demand inelastic unit elastic or elastic at the price marks) b. Due to a sudden shortage, the price of the product from is increased to 596 per unit. Is to demand inelastic, unit elastic or elasticat this price (2 marks) c. Explain what this result actually means in terms of changes in price and demand. (1 mark) For the toolbar, press ALT-F10(PC) or ALT+FN+F10 (Mac). 5 Paragraph Arial 14px !!! !!! > SEX X - +] 81 92 EB S BH E38 E3 Click Save and Submitte and sunt. Click Sat All Actors to an all as BI ING Demand for a product is related to its price in dollars per unit) by the equation p = 150 - 34 a. Find the price elasticity of demand E- da x when the price is $27 per unit is demand inelastic unit elastic or elasticat this price odp marks) b. Due to a sudden shortage, the price of the product from is increased to $96 per unit is to demand inelastic unit elastic or elastic at this price (2 marks) c. Explain what this result actually means in terms of changes in price and demand. (1 mark) For the toolbar, press ALT+F10 (PC) or ALT FNF10 (Mac). US Paragraph v Arial V 14px : I 3 X X ST Tic +]