The part of the question where it wants you to fill in the blank is: "The demand is going "up" or "down" by ______% per 1% increase in price at that price level" In case you were confused I thought this would help clarify. Thanks!

8. [-/5 Points] DETAILS WANEAC7 5.6.007. MY NOTES PRACTICE ANOTHER The consumer demand equation for tissues is given by q = (107 - p), where p is the price per case of tissues and q is the demand in weekly sales. (a) Determine the price elasticity of demand E when the price is set at $26. (Round your answer to three decimal places.) E =[ Interpret your answer. The demand is going ? 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 Need Help? Read It Submit Answer 9. [-/6 Points] DETAILS WANEAC7 5.6.003. MY NOTES PRACTICE ANOTHER Worldwide annual sales of smartphones over a two year period were approximately q = -6p + 3,090 million phones at a selling price of $p per phone. (a) Obtain a formula for the price elasticity of demand E. E = (b) In one of the years the actual selling price was $385 per phone. What was the corresponding price elasticity of demand? (Round your answer to two decimal places.) E = Interpret your answer. The demand was going -Select- ] by about % per 1% increase in price at that price level. (c) Use your formula for E to determine the selling price that would have resulted in the largest annual revenue. What would have been the resulting annual revenue? (Round your answer to two decimal places.) billion Need Help? Read It