of demand E (p) (c) What is the elasticity of demand when p = $20? If the price is increased by15%, what is the approximate change in demand? (d) What is the elasticity of demand when p = $40? At the price of $40, will a decrease in price cause revenue to increase or decrease? (e) Find the price for which the revenue is maximized.
Fig: 1
Fig: 2
Fig: 3
Fig: 4
Fig: 5
Fig: 6
Fig: 7