Determine the price elasticity of demand E when the retail price is set at ¥800. E =   Interpret your answer. The demand is going      by   % per 1% increase in price at that price level. Thus, a large price      is advised. (b) At what price will revenue be a maximum?   hundred yen (c) Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.)   paint-by-number sets per month

Calculus: Early Transcendentals
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Author:James Stewart
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Chapter1: Functions And Models
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The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula 
q = 95e−3p2 + p,
 where q is the demand in monthly sales and p is the retail price in hundreds of yen.
(a)
Determine the price elasticity of demand E when the retail price is set at ¥800.
E =  
Interpret your answer.
The demand is going      by   % per 1% increase in price at that price level. Thus, a large price      is advised.
(b)
At what price will revenue be a maximum?
  hundred yen
(c)
Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.)
  paint-by-number sets per month
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