The consumer demand equation for tissues is given by q= (104−p)2,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$27. (Round your answer to three decimal places.) E= The demand is going (UP/ DOWN?) (?)% PER 1% increase in the price at that price level? (b) At what price should tissues be sold in order to maximize the revenue? (Round your answer to the nearest cent.) ($?) (c) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.) (?) cases per week
The consumer demand equation for tissues is given by q= (104−p)2,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$27. (Round your answer to three decimal places.)
E=
The demand is going (UP/ DOWN?) (?)% PER 1% increase in the price at that price level?
(b) At what price should tissues be sold in order to maximize the revenue? (Round your answer to the nearest cent.)
($?)
(c) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.)
(?) cases per week
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