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:
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:
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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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