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27 March, 15:01

The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 104e-3p2 + p, where q is the demand in monthly sales and p is the retail price in hundreds of yen. Determine the price elasticity of demand E when the retail price is set at ¥200.

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  1. 27 March, 15:23
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    The price elasticity of demand is 0

    Step-by-step explanation:

    The demand function for monthly sales is given as:

    q = 104e^-3p^2 + p

    The price elasticity of demand E is obtained by differentiating q with respect to p

    E = dq/dp = (-6p + 1) * 104e^-3p^2 + p =

    When p = ¥200

    E = (-6*200 + 1) * 104e^-3 (200) ^2 + 200 = - 1199 * 104 (0) = - 1199 * 0 = 0
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