A software entertainment company recently ran a holiday sale on its popular software program. Using data collected from the sale, it is possible to estimater that the original price was $53, the demand for the software can be estimated by the function q=3,615,000p2.017 , where p is the price and q is the deman revenue is maximized. What formula should be used to compute the elasticity of demand, E, if q is demand at a price p? A. E=- P da q dp OB. E=q-dp O.c. E= Р q dp dq OD. E=p-dq Find the elasticity of demand. E= (Simplify your answer. Type an integer or a decimal.) Interpret the elasticity of demand. OA. The demand is inelastic for low prices and increases with price, reaching unit elasticity and then becoming elastic. B. The demand is elastic for low prices and decreases with price, reaching unit elasticity and then becoming inelastic. OC. The demand is inelastic at any price. OD. The demand is elastic at any price. OE. The demand is unit elastic at any price. Determine the price at which revenue is maximized. Select the correct choice below and, if necessary, fill in the answer box to complete your choice OA. Revenue is maximized at the price $ (Round to the nearest cent as needed.) OB. At any price, the demand is elastic, so there is no maximum revenue. OC. At any price, the demand is inelastic, so there is no maximum revenue. OD. At any price, the demand is unit elastic, so the revenue is the same at any price.

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