For the demand function q= D(p) 3 247- p, find the following. a) The elasticity b) The elasticity at p= 118, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars) a) Find the equation for elasticity. E(p)= b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. E(118) = (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? unit elasticity elastic inelastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars).

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Q: total revenue

A: (a)

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