Te weekly sales of honolulu red oranges is given by q , Business Economics

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Te weekly sales of honolulu red oranges is given by q

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†). HINT [See Example 1.] Incorrect: Your answer is incorrect. Interpret your answer. The demand is going Correct: Your answer is correct. 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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Business Economics: Te weekly sales of honolulu red oranges is given by q

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