Suppose that the Ace company makes wigits and that the price demand function for wigits is f(p)=230?p where demand is measured in number of wigits and price is measured in dollars.
a. Given that prices cannot be negative and that demand should be zero or more, what domain makes business sense for the demand function? Use inequality notation.
c. The elasticity function measures how sensitive demand is to price changes. The domain of the elasticity function is bounded above by 230 because for prices over 230, demand would be..(select an answer) :Inelastic, elastic, negtive, positive.