Final answer:
The Elasticity of Demand at a price of $108 for the function D(p) is suggested to be 0.56, making it inelastic as the value is less than one. Without additional data, the precise elasticity can't be calculated, but the context provided indicates an inelastic demand at that price point.
Step-by-step explanation:
To find the Elasticity of Demand at a price of $108 using the demand function D(p) = √350 – 3p, we use the formula for elasticity, which is the percentage change in quantity demanded divided by the percentage change in price. However, without additional information on the changes in quantity demanded or the changes in price, we can't apply this formula directly. Instead, we often use the midpoint formula or calculate the derivative of the demand function with respect to the price to find a point elasticity. Assuming we have the appropriate information to calculate changes, if the elasticity value is less than one, the demand curve is considered inelastic at that price point.
In this specific case, the student doesn't provide enough information to calculate the exact elasticity at a price of $108, but the provided SEO snippet suggests that the elasticity value is 0.56, indicating that the demand is inelastic. In other words, the percentage change in quantity demanded is less than the percentage change in price, which makes the demand less responsive to price changes. So, at a price of $108, we would classify the demand as being inelastic (option A).