Question
The consumer demand equation for tissues is given by q= (104p) 2 ,wherepis the price per case of tissues andqis the demand in weekly sales.
The consumer demand equation for tissues is given by q= (104p)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$27. (Round your answer to three decimal places.)
E=
The demand is going (UP/ DOWN?) (?)% PER 1% increase in the price at that price level?
(b) At what price should tissues be sold in order to maximize the revenue? (Round your answer to the nearest cent.)
($?)
(c) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.)
(?) cases per week
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
High School Math 2012 Common-core Algebra 2 Grade 10/11
Authors: Savvas Learning Co
Student Edition
9780133186024, 0133186024
