Question: for the demand function given find the elasticity at the...
For the demand function given, find the elasticity at the given price and state whether the demand is elastic, inelastic, or whether it has unit elasticity. Show work.
Q(p) = 500 / (p + 6)^2; p = 5
Own-Price Elasticity of Demand at p = 5: ___________
Is demand elastic, inelastic, or unit elastic at p = 5? ____________