(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?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter2: Functions And Graphs
Section2.3: Linear Functions And Slope
Problem 105E
Related questions
Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7e96662-7ea5-46d6-a4e3-03b950081c72%2Ff30d725a-9bb5-4f4c-9599-c083d296a873%2Fwwyvd3_processed.jpeg&w=3840&q=75)
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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