Question: For the following demand function, find a. E, and b. the values of q (if any) at which total revenue is maximized. p = 4002'

= 4002' \"Sq 3. Find the elasticity of demand (E) in terms

of q. EN) = b. Find the values of q (if any)

For the following demand function, find a. E, and b. the values of q (if any) at which total revenue is maximized. p = 4002' \"Sq 3. Find the elasticity of demand (E) in terms of q. EN) = b. Find the values of q (if any) at which total revenue is maximized. Select the correct choice below, and if necessary, fill in the answer box within your choice. {:3 A- Revenue is maximized at q = (Type an integer or a simplied fraction.) {j} B. No values of q maximize revenue. A study of the demand for air travel between two cities depends on the airfare according to the following demand equation. q = 55.6 - 0.022p a. Find the elasticity when the price is $166.26. E = D (Round to the nearest thousandth as needed.) b. Is the demand for airfare elastic or inelastic at this price? The demand for airfare at $166.26 is El. c. Find the price that maximizes revenue. Revenue will be maximized when the price is $|:| (Round to the nearest dollar as needed.)

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