A company estimates that the weekly sales q of its product is related to the product's price p by the function 17875 V where p is in dollars. Currently, each unit of the product is selling for $5. a. Determine the point elasticity of demand of this product. (Do not round e; answer exactly) The point elasticity of demand is e = Preview Round these next two parts to the nearest whole number. b. Determine the effect on revenue if the price were decreased by 1 % If the price were decreased by 1 %, the revenue will | Select an answer vby $ c. Determine the effect on revenue if the price were decreased by 5 % If the price were decreased by 5 %, the revenue will Select an answer v by $

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