calculus question
need help on my homework
March 18, 2019
Legal Business Assignment 300 min
March 18, 2019

calculus question

1.

 

The weekly sales of Honolulu Red Oranges is given by q  = 1116  − 18 p .

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

 

Interpret your answer.

 

The demand is going  down   by  ______ % per 1% increase in price at that price level.

 

Also, calculate the price that gives a maximum weekly revenue.

$_________

 

Find this maximum revenue.

$_______

 

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