A community for students.
Here's the question you clicked on:
 0 viewing
Riley
 5 years ago
A quadratic regression based on old sales data reveals the following demand equation for the Tshirts:
q = −2p^2 + 24p (9 ≤ p ≤ 15).
Here, p is the price the club charges per Tshirt, and q is the number it can sell each day at the flea market.
(a) Obtain a formula for the price elasticity of demand for E = mc2 Tshirts.
(b) Compute the elasticity of demand if the price is set at $15 per shirt.
(c) How much should the Physics Club charge for the Tshirts in order to obtain the maximum daily revenue?
(d)What will the revenue be?
Riley
 5 years ago
A quadratic regression based on old sales data reveals the following demand equation for the Tshirts: q = −2p^2 + 24p (9 ≤ p ≤ 15). Here, p is the price the club charges per Tshirt, and q is the number it can sell each day at the flea market. (a) Obtain a formula for the price elasticity of demand for E = mc2 Tshirts. (b) Compute the elasticity of demand if the price is set at $15 per shirt. (c) How much should the Physics Club charge for the Tshirts in order to obtain the maximum daily revenue? (d)What will the revenue be?

This Question is Closed

riley
 5 years ago
Best ResponseYou've already chosen the best response.0Very confused and frustrated with this elasticity stuff . . . uuughhh

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I think this is college stuff because i'm in the tenth grade and i don't have a clue what that means lol sorry I wish I could help!

riley
 5 years ago
Best ResponseYou've already chosen the best response.0yeah it is college stuff =/ and it's kicking my butt . . .
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.