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The weekly sales of Honolulu Red Oranges is given by q = 1000 10p Calculate the price elasticity of demand when the price is $30
The weekly sales of Honolulu Red Oranges is given by q = 1000 10p Calculate the price elasticity of demand when the price is $30 per orangelyes. per orange). Interpret your answer. Also, calculate the price that gives a maximum weekly revenue and find this maximum revenue. When the price is $30, the elasticity is {Round to 2 decimal places 5 per This means the demand is going down by price per orange. The weekly revenue at The revenue is maxdmized when the price is $ that price is $
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