Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 12 - Section 12.6 - Elasticity - Exercises - Page 932: 5c

Answer

$p=\$11$ (It is in the given range of $9\leq p\leq 15)$

Work Step by Step

As the elacticity is: $E=-(-4p+33))\times\frac{p}{-2p^2+33p}$ The revenue is maximized where $E=1$ Here, $(4p-33)\times\frac{p}{-2p^2+33p}=1$ $4p^2-33p=-2p^2+33p$ $4p-33=-2p+33$ $p=\$11$
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