The weekly sales of Honolulu Red Oranges is given by q = 1144 – 22p. Calculate the price elasticity of demand when the price is $32 per orange (yes, $32 per oranget). Interpret your answer. The demand is going down v v by % per 1% increase in price at that price level. Also, calculate the price that gives a maximum weekly revenue. $ Find this maximum revenue.
The weekly sales of Honolulu Red Oranges is given by q = 1144 – 22p. Calculate the price elasticity of demand when the price is $32 per orange (yes, $32 per oranget). Interpret your answer. The demand is going down v v by % 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
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 43E
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