The estimated monthly sales of *Mona Lisa* paint-by-number sets is given by the formula *q* = 95*e*^{−3p2 + p},

where *q* is the demand in monthly sales and *p* is the retail price in hundreds of yen.

(a) Determine the price elasticity of demand *E* when the retail price is set at ¥300.

*E* =

Interpret your answer.

The demand is going

? up down

by % per 1% increase in price at that price level. Thus, a large price

? increase decrease

is advised.

(b) At what price will revenue be a maximum?

hundred yen

(c) Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.)

paint-by-number sets per month

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