4. + -/3 points 0/30 Submissions Used My Notes A fried chicken franchise finds that the demand equation for its new roast chicken product, "Roasted Rooster," is given by q=20.85 where p is the price in dollars) per quarter-chicken serving and 9 is the number of quarter-chicken servings that can be sold per hour at this price. Find E(P) E(p) = Find the price elasticity of demand when the price is set at $3.80 per serving. At a price of $3.80, a 1% increase in price leads to a % decrease in demand. Interpret the result. At a price of $3.80, the demand is --Select--- A. They should ---Select-- the price per serving in order to increase revenue. 5. + 0/6 points Previous Answers 2/30 Submissions Used My Notes The weekly sales of Honolulu Red Oranges is given by 9 = 1188 - 18p. where q is the number of oranges sold at the price p dollars per orange. Find E(p) ECP) = x Calculate the price elasticity of demand when the price is $33 per orange (yes, $33 per oranget). HINT (See Example 1.] Interpret your answer. The demand is going ? x by X % per 1% increase in price at that price level. Use the elasticity to calculate the price that gives a maximum weekly revenue. X dollars per orange Find this maximum revenue. X dollars of revenue Submit Answer 4. + -/3 points 0/30 Submissions Used My Notes A fried chicken franchise finds that the demand equation for its new roast chicken product, "Roasted Rooster," is given by q=20.85 where p is the price in dollars) per quarter-chicken serving and 9 is the number of quarter-chicken servings that can be sold per hour at this price. Find E(P) E(p) = Find the price elasticity of demand when the price is set at $3.80 per serving. At a price of $3.80, a 1% increase in price leads to a % decrease in demand. Interpret the result. At a price of $3.80, the demand is --Select--- A. They should ---Select-- the price per serving in order to increase revenue. 5. + 0/6 points Previous Answers 2/30 Submissions Used My Notes The weekly sales of Honolulu Red Oranges is given by 9 = 1188 - 18p. where q is the number of oranges sold at the price p dollars per orange. Find E(p) ECP) = x Calculate the price elasticity of demand when the price is $33 per orange (yes, $33 per oranget). HINT (See Example 1.] Interpret your answer. The demand is going ? x by X % per 1% increase in price at that price level. Use the elasticity to calculate the price that gives a maximum weekly revenue. X dollars per orange Find this maximum revenue. X dollars of revenue Submit