The weekly sales of Honolulu Red Oranges is given by q = 810 − 9p Calculate the price elasticity of demand when the price is $30 per orange (yes, $30 per orange†).  Price elasticity of demand when the price is $30 per orange=________________________

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.3: Lines
Problem 62E
icon
Related questions
Question

The weekly sales of Honolulu Red Oranges is given by q = 810 − 9p Calculate the price elasticity of demand when the price is $30 per orange (yes, $30 per orange†). 

Price elasticity of demand when the price is $30 per orange=________________________


Interpret your answer.
The demand is going down by______________% per 1% increase in price at that price level.


Also, calculate the price that gives a maximum weekly revenue.
$=_________________

Find this maximum revenue.

$=________________

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 4 images

Blurred answer
Knowledge Booster
Differential Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning