Let $Q(p)$ be the demand function for a certain product, where $p$ is price. If $R$ is a function of $p$ for the total revenue, $\frac{dR}{dp} = MR$ is the marginal revenue.

Remember: the price elasticity of demand can be defined as: $E = -\frac{dQ}{dp}\frac{p}{Q}$.

$MR =$
Your answer should be in terms of $Q$ and $E$.

Given that elasticity is a function of price; based on your answer to the previous question, how should price be set to maximize revenue?

A. $E > 1$
B. $0 < E < 1$
C. $E = 1$
D. Not enough information

(you will lose 25% of your points if you do)