Please11 show all work and final answers as they should be shown **Elasticity of Demand:**A company can sell $ q = 11270 - 23p $ of a certain model of digital camera (given in thousands) at a price of $ p $ dollars each.a. Determine the elasticity of demand function $ E(p) $ for this camera.b. Suppose the current price is set at $275. Evaluate $ E(p) $ at the current price (express answer as a decimal rounded to the hundredths place).c. Specify whether demand is elastic or inelastic at this price and give a reason.d. What price will yield the maximum revenue?

A company can sell of a certain model of digit camera at a price of p dollers each. Then we have to answer the following...Writing q in terms of p, then we have and The elasticity of demand is thus Given that the current price is set at $275, then The demand is elastic if E(p)>1." data-mce-style="display: inline-block; line-height: 0; text-indent: 0px; text-align: left; text-transform: none; font-style: normal; font-weight: normal; font-size: 16.96px; letter-spacing: normal; overflow-wrap: normal; word-spacing: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; border: 0px; margin: 0px; padding: 1px 0px; position: relative;" data-mce-tabindex="0">E(p)>>1. That is to say, the demand is elastic if the percentage change in demand is greater than the percentage change in price.The demand is unitary if E(p)=1." data-mce-style="display: inline-block; line-height: 0; text-indent: 0px; text-align: left; text-transform: none; font-style: normal; font-weight: normal; font-size: 16.96px; letter-spacing: normal; overflow-wrap: normal; word-spacing: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; border: 0px; margin: 0px; padding: 1px 0px; position: relative;" data-mce-tabindex="0">E(p)=1. That is to say, the demand is unitary if the percentage change in demand and price are relatively equal.The demand is inelastic if E(p)<1." data-mce-style="display: inline-block; line-height: 0; text-indent: 0px; text-align: left; text-transform: none; font-style: normal; font-weight: normal; font-size: 16.96px; letter-spacing: normal; overflow-wrap: normal; word-spacing: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; border: 0px; margin: 0px; padding: 1px 0px; position: relative;" data-mce-tabindex="0">E(p)<1. That is to say, the demand is inelastic if the percentage change in demand is less than the percentage change in price.Since therefore the demand is elastic.Solution (a): Solution (b): Solution (c): The demand is elastic.Since you are asking multiple subparts. We are answering only the first three subparts as per our submission guidelines.