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Riley

  • 4 years ago

A quadratic regression based on old sales data reveals the following demand equation for the T-shirts: q = −2p^2 + 24p (9 ≤ p ≤ 15). Here, p is the price the club charges per T-shirt, 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 T-shirts. (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 T-shirts in order to obtain the maximum daily revenue? (d)What will the revenue be?

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  1. Riley
    • 4 years ago
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    Very confused and frustrated with this elasticity stuff . . . uuughhh

  2. becca18
    • 4 years ago
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    I 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!

  3. Riley
    • 4 years ago
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    yeah it is college stuff =/ and it's kicking my butt . . .

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