There is a small bakery shop that bakes and sells a single type of bread. This bakery's weekly sales is given by the following equation:  q=2000−20p where  p  is the price per bread, and  q  is the quantity demanded at price  p .  (1) Compute the weekly revenue for a price of 60. Answer:   (2) Compute the price elasticity of demand for a price of 60. Answer:   (3) Compute the weekly revenue for a price of 20. Answer:

Advanced Engineering Mathematics
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ISBN:9780470458365
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Chapter2: Second-order Linear Odes
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There is a small bakery shop that bakes and sells a single type of bread. This bakery's weekly sales is given by the following equation: 

q=2000−20p

where  p  is the price per bread, and  q  is the quantity demanded at price  p . 

(1) Compute the weekly revenue for a price of 60.

Answer:  

(2) Compute the price elasticity of demand for a price of 60.

Answer:  

(3) Compute the weekly revenue for a price of 20.

Answer:  

(4) Compute the price elasticity of demand for a price of 20.

Answer:  

(5) Find the price that maximizes the weekly revenue.

Answer:  

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