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crobinson2013

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Question 1

A CD store determines the following demand function for a particular CD

 

where q = the number of CDs sold per day when the price per CD is x dollars.   At what price is the revenue a maximum?  Round your answer to the nearest dollar.
◦ $12
◦ $18
◦ $13
◦ $15

Question 2

A CD store determines the following demand function for a particular CD

 

where q = the number of CDs sold per day when the price per CD is x dollars.  Find the elasticity at a price of $12 per CD and state whether the demand is elastic or inelastic.
◦ 0.05; elastic
◦ 0.05; inelastic
◦ 0.54; inelastic
◦ 0.54; elastic


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Marked as best answer by crobinson2013 on Jun 16, 2021

snackralk

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crobinson2013

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Reply 2 on: Jun 16, 2021
Wow, this really help


bigcheese9

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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