Question: Answer both please A) Slowing down B) Speeding up 19. The weekly sales of Honolulu Red Oranges is given by the following function: q=1,070-24 p.
Answer both please

A) Slowing down B) Speeding up 19. The weekly sales of Honolulu Red Oranges is given by the following function: q=1,070-24 p. Calculate the price elasticity of demand at a price of $27 per orange. A) 0.27 B) 0.57 C) 1.25 D) 1.54 E) 1.65 20. Continuing with the previous question, based on your answer what should the company do to increase revenue? A) Demand is elastic; increase price to increase revenue. B) Demand is elastic; decrease price to increase revenue. B) Demand is inelastic; increase price to increase revenue. C) Demand is inelastic; decrease price to increase revenue. E) Don't increase or decrease price. Revenue is maximized at this price
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
