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he weekly sales of Honolulu Red Oranges is given by q =115521 p . a)Calculate the price elasticity of demand when the price is $30
he weekly sales of Honolulu Red Oranges is given byq=115521p.
a)Calculate the price elasticity of demand when the price is$30per orange (yes,$30per orange). HINT [See Example 1.]
b)Interpret your answer.The demand is going?
up or
down
c)by% per 1% increase in price at that price level.
d)Also, calculate the price that gives a maximum weekly revenue.
$
e)Find this maximum revenue.
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