The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 102e^{p 3p2/2},

where q is the demand in monthly sales and p is the retail price in yen.

(a) Determine the price elasticity of demand E when the retail price is set at 4 yen.

E =

Interpret your answer.

The demand is going

? up down

by % per 1% increase in price at that price level. Thus, a large price

? increase decrease

is advised.

(b) At what price will revenue be a maximum? (Round your answer to two decimal places.)

yen

(c) 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