For the demand function q equals Upper D (p )equals 314 minus p, find the following.

a) The elasticity
b) The elasticity at pequals117, 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)

1.Find the equation for elasticity.
2.Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. E(108)= (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity?

a. unit elasticity
b. inelastic
c. elastic

3.Find the value(s) of p for which total revenue is a maximum