A software entertainment company recently ran a holiday sale on its popular software program. Using data collected from the sale, it is possible to estimate the demand corresponding to various discounts in the price of the software. Assuming that the original price was $40, the demand for the software can be estimated by the function q=3,858,000p 2.295, where p is the price and q is the demand Calculate and interpret the elasticity of demand What formula should be used to compute the elasticity of demand, E, if q is demand at a price p? OA. E=q dp p dq OB. E=- 9 dp Oc. E=p da p q OD. E=- dp dq Find the elasticity of demand E= (Simplify your answer.) What can be concluded about the elasticity of demand for the software program? A. The demand is unit elastic. Revenue will remain constant when price changes OB. The demand is inelastic. An increase in price will decrease revenue. OC. The demand is elastic. An increase in price will decrease revenue. OD. The demand is inelastic. An increase in price will increase revenue

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