Asked by Kyle
I have everything right but the last question asking how many cases per week
The consumer demand equation for tissues is given by
q = (97 − p)2,
where p is the price per case of tissues and q is the demand in weekly sales.
(a) Determine the price elasticity of demand E when the price is set at $34. (Round your answer to three decimal places.)
E = 1.079
Interpret your answer.
The demand is going ? down by 1.079 % per 1% increase in price at that price level.
(b) At what price should tissues be sold in order to maximize the revenue? (Round your answer to the nearest cent.)
$ 32.33
(c) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.)
? cases per week
The consumer demand equation for tissues is given by
q = (97 − p)2,
where p is the price per case of tissues and q is the demand in weekly sales.
(a) Determine the price elasticity of demand E when the price is set at $34. (Round your answer to three decimal places.)
E = 1.079
Interpret your answer.
The demand is going ? down by 1.079 % per 1% increase in price at that price level.
(b) At what price should tissues be sold in order to maximize the revenue? (Round your answer to the nearest cent.)
$ 32.33
(c) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.)
? cases per week
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