(b) Find the point at which the demand is of unitary elasticity. q = 187.5 Find intervals in which the demand is inelastic and in which it is elastic. (Enter your answers using interval notation.) inelastic q<187.5 q > 187.5 elastic (c) Use information about elasticity in part (b) to decide where the revenue is increasing, and where it is decreasing. (Enter your answers using interval notation.) increasing decreasing Use information about elasticity in part (b) to decide where the revenue is maximized. q =
(b) Find the point at which the demand is of unitary elasticity. q = 187.5 Find intervals in which the demand is inelastic and in which it is elastic. (Enter your answers using interval notation.) inelastic q<187.5 q > 187.5 elastic (c) Use information about elasticity in part (b) to decide where the revenue is increasing, and where it is decreasing. (Enter your answers using interval notation.) increasing decreasing Use information about elasticity in part (b) to decide where the revenue is maximized. q =
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The
please answer parts b and c

Transcribed Image Text:(b) Find the point at which the demand is of unitary elasticity.
q = 187.5
Find intervals in which the demand is inelastic and in which it is elastic. (Enter your answers using interval notation.)
inelastic
q<187.5
q > 187.5
elastic
(c) Use information about elasticity in part (b) to decide where the revenue is increasing, and where it is decreasing. (Enter your answers using interval notation.)
increasing
decreasing
Use information about elasticity in part (b) to decide where the revenue is maximized.
q =
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