l [-/11.11 Points] DETAILS WAN EFMAC7 12.6.008. MY NOTES PRACTICE ANOTHER The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by q = (113 2p)2, where p is the price per dumbbell, and q is the demand in weekly sales. Find the price Professor Schwarzenegger should charge for his dumbbells to maximize revenue. (Round your answer to the nearest cent.) $ Need Help? and" kJ JkJ The Physics Club sells E = mc2 Tshirts at the local flea market. Unfortunately, the club's previous administration has been losing money for years, so you decide to do an analysis of the sales. A quadratic regression based on old sales data reveals the following demand equation for the T-shirts. q= 2p2+33p (9 Sps 15) Here, p is the price the club charges per Tshirt, and q is the number it can sell each day at the ea market. (a) Obtain a formula for the price elasticity of demand for E = mc2 T-shirts. E: (b) Compute the elasticity of demand if the price is set at $10 per shirt. (Round your answer to two decimal places.) Interpret the result. The demand for E = mc2 T-shirts is going ? a by about % per 1% increase in the price. (c) How much should the Physics Club charge for the Tshirts to obtain the maximum daily revenue? $ What will the revenue be? $