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=________________________
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
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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.
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.
$=________________
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