Worldwide annual sales of smartphones over a five year period were projected to be approximately q = −10p + 4,360 million phones at a selling price of $p per phone. (a) Obtain a formula for the price elasticity of demand E. E = 10p−10p+4360​ (b) In one year the actual selling price was $289 per phone. What was the corresponding price elasticity of demand? (Round your answer to two decimal places.) E = Interpret your answer. (Round your answer to two decimal places.) The demand was going by about % per 1% increase in price at that price level. (c) Use your formula for E to determine the selling price that would have resulted in the largest annual revenue. $ What, to the nearest $10 million, would have been the resulting annual revenue? $ Your answer cannot be understood or graded. More Information million

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Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.