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2 The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 95e'3p + p, where q is the demand in monthly sales and p

屏幕快照 2018-08-01 下午9.13.44.png

The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 95e−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

屏幕快照 2018-08-01 下午9.13.44.png

2 The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 95e‘3p + 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= x Interpret you r a nswer. The demand is going I down :| ‘1 by % per 1% increase in price at that price level. Thus, a large price ./ 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 Need Help?

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