Question 5. (10 marks) Let D(p) be the demand curve for a monopolist's product.

(a) Write down the monopolist's revenue function

(b) We know that, for two functions g(x) and f(x): Elx[g(x)f(x)] = Elx[g(x)] + Elx[f(x)]. Use this to find the elasticity of revenue with respect to price.

(c) Show that, if demand is elastic, increasing price will decrease revenue for the monopolist.