The consumer demand equation for tissues is given by: q = (106 − 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 $32. (Round your answer to three decimal places.) E = ____?

The demand is going down by what percent per 1% increase in 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? ____ cases per week?

Question

The consumer demand equation for tissues is given by:   q = (106 − 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 $32. (Round your answer to three decimal places.)  E = ____?

The demand is going down by what percent per 1% increase in 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?  ____ cases per week?

riley · Answer

I need help . . . . *slams head against keyboard*