Mathematics

Tabitha Stephenson

30 March, 08:20

The demand curve for original Iguanawoman comics is given by q = (400 - p) ^2/100 (0 ≤ p ≤ 400) where q is the number of copies of the publisher can sell per week if it sets the price at $ pa) Find the price elasticity of demand when the price is set at $ 40 per copy. b) Find the price at which the publisher should sell the book in order to maximize weekly revenue. Hint: weekly revenue reaches its maximum value when the price elasticity of demand E = - dq/dp p/q, equals 1. Find the price such that E = 1c) What, to the nearest $ 1, is the maximum weekly revenue the publisher can realize from sales of Iguanawoman comics?