The weekly sales of Honolulu Red Oranges is given by g = 1134 – 18p. Calculate the price elasticity of demand when the price is $28 per orange (yes, $28 per oranget). Interpret your answer. The demand is going ? % per 1% increase in price at that price level. Also, calculate the price that gives a maximum weekly revenue. Find this maximum revenue. $

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.3: Lines
Problem 60E
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The weekly sales of Honolulu Red Oranges is given by q = 1134 – 18p. Calculate the price elasticity of demand when the price is $28 per orange (yes, $28 per oranget).
Interpret your answer.
The demand is going ?
v by
% per 1% increase in price at that price level.
Also, calculate the price that gives a maximum weekly revenue.
2$
Find this maximum revenue.
$
Transcribed Image Text:The weekly sales of Honolulu Red Oranges is given by q = 1134 – 18p. Calculate the price elasticity of demand when the price is $28 per orange (yes, $28 per oranget). Interpret your answer. The demand is going ? v by % per 1% increase in price at that price level. Also, calculate the price that gives a maximum weekly revenue. 2$ Find this maximum revenue. $
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