The price demand function for 100 packs of whiteboard erasers is x = (360-4p)1/2. p is the price of one 100 pack of erasers.
Using the following equation: E(p) = (-p/f(x)) * f'(x)
A) What is the elasticity of p = $18? Is the demand elastic, inelastic, or unit elasticity at this price?
B) What price should the manufacturer charge in order to maximize revenue?