The demand curve for original Iguanawoman comics is given by (464 - p)? (0 sp s 464), where a is the number of copies the publisher can sell per week if it sets the price at $p. (a) Find the price elasticity of demand when the price is set at $39 per copy. (Round your answer to two decimal places.) Aera number. (b) Find the price at which the publisher should sell the books to maximize weekly revenue. (Round your answer to the nearest cent.) (c) What, to the nearest $1, is the maximum weekly revenue the publisher can realize from sales of Iguanawoman comics?
The demand curve for original Iguanawoman comics is given by (464 - p)? (0 sp s 464), where a is the number of copies the publisher can sell per week if it sets the price at $p. (a) Find the price elasticity of demand when the price is set at $39 per copy. (Round your answer to two decimal places.) Aera number. (b) Find the price at which the publisher should sell the books to maximize weekly revenue. (Round your answer to the nearest cent.) (c) What, to the nearest $1, is the maximum weekly revenue the publisher can realize from sales of Iguanawoman comics?
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 13CQ: Suppose Erin, the owner-manager of a local hotel projects the following demand for her rooms: a....
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