Elasticity question

Question

The comsumer demand equation for tissues is given by q = (103 - p)^2, where p is the price per case of tissues and q is the demand in weekly sales.

(a) Determine the price elasticity of demand E when the price is set at $33. (Round your answer to three decimal places.)

Interpret your answer.

The demand is going ___?___ by ____% per 1% increase in price at that same level.

(b) At what price should tissues be sold to maximize the revenue? (Round your answer to the nearest cent.)

$_______

(C) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.)

________ cases per week

Answer 1

Please see the answer I gave to your other question which is very similar to this one.