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A third-party Amazon seller who has acquired a supply of single rolls of toilet paper has...

A third-party Amazon seller who has acquired a supply of single rolls of toilet paper has been watching prices and has determined that the demand function is

D(p)=(p+1500)/(0.03p^3+12)

Where p is the price of a roll of toilet paper and D(p) is the number sold per day.

a. State the elasticity function.

b. What is the elasticity at a price point of $10 per roll?

c. What price will yield the greatest revenue? $

d. How many rolls will be sold at the price which yields the greatest revenue. Round to the nearest whole number of rolls.

e. What is the maximum revenue?

Solutions

Expert Solution

milcah answered 2 years ago
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