The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 95e-3p + P, where g 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 ¥200. E = Interpret your answer. The demand is going ? O by % per 1% increase in price at that price level. Thus, a large price ? e 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

The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 95e-3p + P, where g 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 ¥200. E = Interpret your answer. The demand is going ? O by % per 1% increase in price at that price level. Thus, a large price ? e 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

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

Chapter8: Areas Of Polygons And Circles

Section8.5: More Area Relationships In The Circle

Problem 30E: At the Pizza Dude restaurant, a 12-in. pizza costs 5.40 to make, and the manager wants to make at...

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