Please give me answer very fast in 5 min The demand equation for the Roland portable hair dryer is given as follows where x (measured in units of a hundred) is the quantity demanded per week and p is the unit price in dollars.-(225-²) (05PS 15)(a) is the demand elastic or inelastic when p=6?O elasticO inelasticIs the demand elastic or inelastic when p = 107O elasticO inelastic(b) When is the demand unitary? (Round your answer to two decimal places.) (Hint: Solve (p)-1 for p.)(c) If the unit price is lowered slightly from $10, will the revenue increase or decrease?O increaseO decrease(d) If the unit price is increased slightly from 56, will the revenue increase or decrease?O increaseO decrease

Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…

The demand equation for the Roland portable hair dryer is given as follows where x (measured in units of a hundred) is the quantity demanded per week and p is the unit price in dollars. x-(225-²) (05PS 15) (a) is the demand elastic or inelastic when p=6? O elastic O inelastic Is the demand elastic or inelastic when p= 107 O elastic Ⓒinelastic (b) When is the demand unitary? (Round your answer to two decimal places.) (Hint: Solve (p)-1 for p.) (c) If the unit price is lowered slightly from $10, will the revenue increase or decrease? O increase O decrease (d) If the unit price is increased slightly from 56, will the revenue increase or decrease? O increase O decrease

The demand equation for the Roland portable hair dryer is given as follows where x (measured in units of a hundred) is the quantity demanded per week and p is the unit price in dollars. x-(225-²) (05PS 15) (a) is the demand elastic or inelastic when p=6? O elastic O inelastic Is the demand elastic or inelastic when p= 107 O elastic Ⓒinelastic (b) When is the demand unitary? (Round your answer to two decimal places.) (Hint: Solve (p)-1 for p.) (c) If the unit price is lowered slightly from $10, will the revenue increase or decrease? O increase O decrease (d) If the unit price is increased slightly from 56, will the revenue increase or decrease? O increase O decrease

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 1.1P: (Calculating Price Elasticity of Demand) Suppose that 50 units of a good are demanded at a price of...

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