The weekly sales of Honolulu Red Oranges is given by

q=868?20p.

Calculate the price elasticity of demand when the price is$31per orange (yes,$31per orange?).

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The weekly sales of Honolulu Red Oranges is given by q = 868 20p. Calculate the prlce elasticity of demand when the prlce is $31 per orange (yes, $31 per orangef). HINT [See Example 1.] Interpret your answer. The demand is going down a f by % per 1% increase in price at that price level. Also, calculate the price that gives a maximum weekly revenue. $ Find this maximum revenue. $