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The number of commuters taking a monorail is currently $2000$ per day, and the price is $\$5.00$ per ticket. The demand equation is

$$q = 500(6-\sqrt{p-1})$$

where $q$ is the number of commuters daily and $p$ is the price.

1) Is the price currently elastic or inelastic?
2) Should the price be increased or decreased in order to increase revenue?


inelastic; decreased


elastic; decreased


inelastic; increased


inelastic; decreased

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