Using the demand curve in the case study (page 5), derive the Total Revenue and Marginal Revenue functions for the Apple watch Recall, TR Price x Quantity What is the revenue maximizing price for the Apple watch What is the coefficient of demand elasticity for the Apple watch Is this elastic or inelastic How do you interpret that coefficient (Use $349 and $299 in your calculation) QAW 150,000 2400 PAW 1520PGearS 1200 PPebble 1200 PiPhone6 44 A As the team prepared for launch, they contemplated a scenario with the following variable values PAW $349, PGearS $380, PPebble $220, PiPhone6 $299, A $15,500 Regression analysis results showed the coefficient of determination to be 0 7581 and the standard error of the estimate to be 30,000

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Question: Using the demand curve in the case study (page 5), derive the Total Revenue and Marginal Revenue functions for the Apple watch? Recall, TR=Price x

Using the demand curve in the case study (page 5), derive the Total Revenue and Marginal Revenue functions for the Apple watch? Recall, TR=Price x Quantity?
What is the revenue maximizing price for the Apple watch?
What is the coefficient of demand elasticity for the Apple watch? Is this elastic or inelastic? How do you interpret that coefficient? (Use $349 and $299 in your calculation).

QAW = -150,000 - 2400 PAW + 1520PGearS + 1200 PPebble - 1200 PiPhone6 + 44 A

As the team prepared for launch, they contemplated a scenario with the following variable values: PAW =$349, PGearS =$380, PPebble =$220, PiPhone6 =$299, A=$15,500. Regression analysis results showed the coefficient of determination to be 0.7581 and the standard error of the estimate to be 30,000.

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