calculus question
1.
The weekly sales of Honolulu Red Oranges is given by
q = 1116 − 18p.
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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