The demand function for a Christmas music CD is given by q = 0.6(3100 - p2) where x (measured in units of a hundred) is the quantity demanded per week and p is the unit price in dollars. (a) Evaluate the elasticity at p = 15. E(15) = (b) Given the computed elasticity value in part (a), is the Christmas music CD an Elastic or Inelastic item? .U (c) Should the unit price be lowered slightly from p = 15 in order to increase revenue? V (d) Find the value for E to maximize revenue. E = yes no