Calculate the price that gives maximum weekly revenue

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Reference no: EM131104825

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. $

Reference no: EM131104825

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Calculate the price that gives maximum weekly revenue : 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†). calculate the price that gives a maximum weekly revenue. $ Find this maximum revenu..

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