calculus question

1.

 

The weekly sales of Honolulu Red Oranges is given by q  = 1116  − 18 p .

Calculate the price elasticity of demand when the price is  $31  per orange (yes,  $31  per orange ). Elasticity = ______

 

Interpret your answer.

 

The demand is going  down   by  ______ % per 1% increase in price at that price level.

 

Also, calculate the price that gives a maximum weekly revenue.

$_________

 

Find this maximum revenue.

$_______

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