The current toll (tax) for the use of a certain toll road is $2.50. A study conducted by the state highway department determined that with a toll of p dollars, q cars will use the road each day, where q = 60,000e^0.5p

a) Is demand elastic or inelastic at p = 2.5?
b) If the state increases the toll slightly, will the revenue increase or decrease? Explain​



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