Question
The consumer demand equation for tissues is given by q = ( 90 p ) 2 , where p is the price per case of
The consumer demand equation for tissues is given byq= (90p)2,
wherepis the price per case of tissues andqis the demand in weekly sales.
(a) Determine the price elasticity of demandEwhen the price is set at $31. (Round your answer to three decimal places.)
E=
Interpret your answer.
The demand is going?
- up
- down
by-------------% per 1% increase in price at that price level.
(b) At what price should tissues be sold to maximize the revenue? (Round your answer to the nearest cent.)
$
(c) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.)
cases per week
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