p ? 60 ? 0.04x, 0 ? x ?1500

where p is the price (in dollars) and x is the number of units.

(a) Determine when the demand is elastic, inelastic, and of unit elasticity.

(b) Use the result of part (a) to describe the behavior of the revenue function

ok I have not seen this type of application problem before so I wanted to ask Mark or Agent or someone to help me with the structuing(setting up the problem)