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.

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

1.8 or

first, we define the variables:

x: number of years after 1950

f (x): amount of vinyl sold.

then, with the variables defined, we have:

68594 vinyl records were sold in 1958 > f (8) = 68594

91299 vinyl records were sold in 1961 > f (11) = 91299

38720 vinyl records were sold in 1952 > f (2) = 38720

161743 vinyl records were sold in 1967 > f (17) = 161743

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step-by-step explanation: