The weekly sales of honolulu red oranges is given by q = 896 − 20p.(a) calculate the price elasticity of demand when the price is $32 per orange (yes, $32 per orange†). = ) the demand is going or by % per 1% increase in price at that price level.(c) also, calculate the price that gives a maximum weekly revenue. $) find this maximum revenue. $

Answer with Step-by-step explanation:

Since we have given that

q = 896-20p

p = $32

.(A) Calculate the price elasticity of demand

As we know that

(B) The demand is going down with increase in 15 increase in price at that price level, as we know that there is inverse relationship between price and quantity demanded.

(C)  Also, calculate the price that gives a maximum weekly revenue.

We first find the first derivative:

So, it becomes,

R=-40<0, so, it will give maximum revenue.

(D) Find this maximum revenue.

Maximum revenue would be

yes because there is exactly one y value for every x value

for function there can't be more than one value for every x value

x = -3

y = -18

step-by-step explanation:

to solve by substitution, substitute one variable and solve for the other. then substitute again to find the remaining variable.

x-1/3(3x-9) = -3 since y=3x-9 substittute y.

x-1/3(3x-9)=-3

x + x +3 = -3

2x+3=-3

2x+3-3= -3-3

2x=-6

x=-3

substitute again into y=3x-9

y=3(-3)-9

y=-9-9

y=-18