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 February 26th, 2012, 03:23 PM #1 Senior Member   Joined: Feb 2012 Posts: 110 Thanks: 0 Revenue and elasticity The price-demand equation for home delivered large pizza is p= 38.2-0.002x where x is the number of pizzas delivered weekly. the current price of one pizza is \$21. In order to generate additional revenue from the sale of large pizzas, would you recommend a price increase or a price decrease? Thanks guys!
 February 26th, 2012, 08:25 PM #2 Senior Member   Joined: Apr 2011 From: USA Posts: 782 Thanks: 1 Re: Revenue and elasticity Start by solving for x with the p = 21. You might try graphing that (x,p) - generally the quantity is the x and money is the y. That'll give you a feel for what it looks like. But plugging in some values higher and lower than 21 and solving for x will tell you if p needs to go higher or lower. (Unless they are expecting you to do something more fancy with this, that should do it.)

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