Lara offers 100 autograph bats. If each is priced at p dollars, it is that demand curve for the bats will p = 250 - q/4. If price elasticity is E (p) = dp/q ÷ dp/p. When |E (p)| 1, demand is elastic....

Lara offers 100 autograph bats. If each is priced at p dollars, it is that demand curve for the bats will p = 250 - q/4. If price elasticity is E (p) = dp/q ÷ dp/p. When |E (p)| < 1,="" demand="" is="" inelasticity="" and="" when="" |e="" (p)|=""> 1, demand is elastic.

1. Find the price of elasticity of demand for Lara's bats.

2. Is demand inelastic or elastic?