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Acme Specialty Products has determined that the demand function for their self-timing egg poachers is given by: (p)=240-57p2 a. Find (p), the Elasticity of Demand as a function of price, p.(p)= b. Find the Elasticity of Demand when self-timing egg poachers are selling at a price of $12. Give result accurate to at least3 decimal places.(12)= c. At this price ( $12 ): We would say the demand for self-timing egg poachers is: Based on this, in order to increase revenue we should: d. Use the Elasticity model to determine the price that maximizes revenue. ( Round result to 2 decimal places.)p=
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