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2, The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula g = 95e ~ 37 /2, where g is the
2, The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula g = 95e\" ~ 37" /2, where g is the demand in monthly sales and p is the retail price in hundreds of yen. (a) Determine the price elasticity of demand E when the retail price is set at 400. Interpret your answer. The demand is going by [:] % per 1% increase in price at that price level. Thus, a large price is advised. (b) At what price will revenue be a maximum? (Round your answer to the nearest integer.) () Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.) : paint-by-number sets per month Need Help? [ wmmns]
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