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The weekly sales of Honolulu Red Oranges is given by q = 1155 − 21p. Calculate...

The weekly sales of Honolulu Red Oranges is given by q = 1155 − 21p. Calculate the price elasticity of demand when the price is $30 per orange (yes, $30 per orange†). HINT [See Example 1.]

Interpret your answer. The demand is going down: 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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