Consider the following. Demand Function p = 12 - 0.0003x Quantity Demanded x = 20,000 Find the price elasticity of demand for the demand function at the indicated x-value. Is the demand elastic, inelastic, or of unit elasticity at the indicated x-value? The demand elastic at this x-value. The demand is inelastic at this x-value. The demand is of unit elasticity at this x-value. Use a graphing utility to graph the revenue function. y 121000 60 500 121 000 60 500 x 20000 40000 10.000 20.000 60 500 30 250 20 000 40000 y▸ 60 500 30 250 x 10000 20000

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