The demand function for headlamps is Of =100-0.4P headlamps -0.001P smartphone The current price of a smartphone (artphone ) is $2,000 and the price of a headlamp (Pheadlamp ) is $50, a. Calculate the own-price elasticity of the demand for headlamps. (2 marks) b. Carefully explain what your result from part (a) means. (2 marks) c. Given the above demand function, are headlamps and smartphones substitutes, or are they complements? Explain. (2 marks) d. Assuming that the current price of smartphones remains constant, should the seller of headlamps increase or decrease the price of headlamps? Why? (2 marks) e. What is the price of headlamps that maximizes the seller's revenues? (2 marks)