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(c) Use your formula for E to determine the selling price that would have resulted in the largest annual revenue. What, to the nearest $10. million, would have been the resulting annual revenue?

(c) Use your formula for E to determine the selling price that would have resulted in the largest annual revenue. What, to the nearest $10. million, would have been the resulting annual revenue?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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please answer part C. this is ons quesrjon so you should be able to. thanks 3. Worldwide annual sales of smartphones in 2013-2017 were projected to be approximately -10p+4,360 million phones at a selling price of Sp per phone. 9 Obtain a formula for the price elasticity of demand E. 10. dp P -10p +41360 TOP -10044360 In 2014, the actual selling price was $297 per phone. What was the corresponding price elasticity of demand? Interpret your answer. 10 (297) 2970 2970 1390 2,14 -10 (297)+4360 -2970+4360 Total revenue is declining at these An increase in price by percent brings a decrease of 1.2.14 in revenue Demand is elastic (c) Use your formula for E to determine the selling price that would have resulted in the largest annual revenue. What, to the nearest $10 million, would have been the resulting annual revenue? 10 (1) 10. POL .0022 -10 (1) +4360 -1044360
Transcribed Image Text:please answer part C. this is ons quesrjon so you should be able to. thanks 3. Worldwide annual sales of smartphones in 2013-2017 were projected to be approximately -10p+4,360 million phones at a selling price of Sp per phone. 9 Obtain a formula for the price elasticity of demand E. 10. dp P -10p +41360 TOP -10044360 In 2014, the actual selling price was $297 per phone. What was the corresponding price elasticity of demand? Interpret your answer. 10 (297) 2970 2970 1390 2,14 -10 (297)+4360 -2970+4360 Total revenue is declining at these An increase in price by percent brings a decrease of 1.2.14 in revenue Demand is elastic (c) Use your formula for E to determine the selling price that would have resulted in the largest annual revenue. What, to the nearest $10 million, would have been the resulting annual revenue? 10 (1) 10. POL .0022 -10 (1) +4360 -1044360
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