A fried chicken franchise finds that the demand equation for its new roast chicken product, "Roasted Rooster," is given by 44 p = q1.5 where p is the price (in dollars) per quarter-chicken serving and g is the number of quarter-chicken servings that can be sold per hour at this price. Express q as a function of p. Find the price elasticity of demand when the price is set at $4.20 per serving. Interpret the result. They should raise the price per serving in order to increase revenue.
A fried chicken franchise finds that the demand equation for its new roast chicken product, "Roasted Rooster," is given by 44 p = q1.5 where p is the price (in dollars) per quarter-chicken serving and g is the number of quarter-chicken servings that can be sold per hour at this price. Express q as a function of p. Find the price elasticity of demand when the price is set at $4.20 per serving. Interpret the result. They should raise the price per serving in order to increase revenue.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter3: Linear And Nonlinear Functions
Section: Chapter Questions
Problem 26MCQ
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