Question

The demand curve for original Iguanawoman comics is given by q = (470 − p)^2/150 (0...

The demand curve for original Iguanawoman comics is given by q = (470 − p)^2/150 (0 ≤ p ≤ 470) where q is the number of copies the publisher can sell per week if it sets the price at $p.

(a) Find the price elasticity of demand when the price is set at $33 per copy. (Round your answer to two decimal places.)

(b) Find the price at which the publisher should sell the books to maximize weekly revenue. (Round your answer to the nearest cent.) $

(c) What, to the nearest $1, is the maximum weekly revenue the publisher can realize from sales of Iguanawoman comics? $

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The demand curve for original Iguanawoman comics is given by q=. (460 − p)2 150       (0...
The demand curve for original Iguanawoman comics is given by q=. (460 − p)2 150       (0 ≤ p ≤ 460) where q is the number of copies the publisher can sell per week if it sets the price at $p. (a) Find the price elasticity of demand when the price is set at $38 per copy. (Round your answer to two decimal places.) (b) Find the price at which the publisher should sell the books to maximize weekly revenue. (Round...
The demand curve for original Iguanawoman comics is given by q = (342 − p)2 50...
The demand curve for original Iguanawoman comics is given by q = (342 − p)2 50       (0 ≤ p ≤ 342) where q is the number of copies the publisher can sell per week if it sets the price at $p. (a) Find the price elasticity of demand when the price is set at $38 per copy. (Round your answer to two decimal places.) (b) Find the price at which the publisher should sell the books to maximize weekly revenue....
The demand curve for original Iguanawoman comics is given by q = (418 − p)2 50...
The demand curve for original Iguanawoman comics is given by q = (418 − p)2 50 (0 ≤ p ≤ 418) where q is the number of copies the publisher can sell per week if it sets the price at $p. (a) Find the price elasticity of demand when the price is set at $37 per copy. (Round your answer to two decimal places.) (b) Find the price at which the publisher should sell the books to maximize weekly revenue....
The consumer demand equation for tissues is given by q = (96 − p)2, where p...
The consumer demand equation for tissues is given by q = (96 − 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 $31. (Round your answer to three decimal places.) E = Interpret your answer. The demand is going by % per 1% increase in price at that price level. (b) At what price should tissues be...
The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by q = (110 −...
The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by q = (110 − 2p)2, where p is the price per dumbbell, and q is the demand in weekly sales. Find the price Professor Schwarzenegger should charge for his dumbbells to maximize revenue. (Round your answer to the nearest cent.)
The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by x = (91 −...
The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by x = (91 − 2p)2, where p is the price per dumbbell, and x is the demand in weekly sales. Find the price Professor Schwarzenegger should charge for his dumbbells in order to maximize revenue. (Round your answer to the nearest cent.)
The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by x = (107 −...
The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by x = (107 − 3p)2, where p is the price per dumbbell, and x is the demand in weekly sales. Find the price Professor Schwarzenegger should charge for his dumbbells in order to maximize revenue. (Round your answer to the nearest cent.)
Suppose the supply and demand for a certain textbook are given by ​supply: P=(1/2)q ^2 and...
Suppose the supply and demand for a certain textbook are given by ​supply: P=(1/2)q ^2 and demand P=(-1/2)q^2+30 where p is the price and q is the quantity. Find the demand quantity and the supply quantity at a price of ​$25 1)The number of books that are demanded at a price of $25 is........ and the number of books supplied at a price of ​$25 is...... ​(Round to the nearest whole number as​ needed.)
The demand function for a Christmas music CD is given by q=D(p)=0.25(225−p2)where q (measured in units...
The demand function for a Christmas music CD is given by q=D(p)=0.25(225−p2)where q (measured in units of a hundred) is the quantity demanded per week and p is the unit price in dollars. (a) Find the elasticity function E(p)= _________ (b) Evaluate the elasticity at 10. E(10)= ________ (c) Should the unit price be lowered slightly from 10 in order to increase revenue? Yes or No. (d) Use the elasticity of demand to find the price which maximizes revenue for...
The short term demand for a product can be approximated by q = D(p) = 18...
The short term demand for a product can be approximated by q = D(p) = 18 − 2 √p where p represents the price of the product, in dollars per unit, and q is the number of units demanded. Determine the elasticity function. Use the elasticity of demand to determine if the current price of $50 should be raised or lowered to maximize total revenue.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT