Question

A fried chicken franchise finds that the demand equation for its new roast chicken product, "Roasted Rooster," is given by p = 36 / q^1.5 where p is the price (in dollars) per quarter-chicken serving and q is the number of quarter-chicken servings that can be sold per hour at this price. Express q as a function of p. q = Find the price elasticity of demand when the price is set at $4.30 per serving. Interpret the result. They should raise the price per serving in order to increase revenue.

          A fried chicken franchise finds that the demand equation for its new roast chicken product, "Roasted Rooster," is given by
p = 36 / q^1.5
where p is the price (in dollars) per quarter-chicken serving and q is the number of quarter-chicken servings that can be sold per hour at this price. Express q as a function of p.
q =
Find the price elasticity of demand when the price is set at $4.30 per serving.
Interpret the result.
They should raise the price per serving in order to increase revenue.

A fried chicken franchise finds that the demand equation for its new roast chicken product, "Roasted Rooster," is given by
p = 36 / q^1.5
where p is the price (in dollars) per quarter-chicken serving and q is the number of quarter-chicken servings that can be sold per hour at this price. Express q as a function of p.
q =
Find the price elasticity of demand when the price is set at 4.30 per serving.
Interpret the result.
They should raise the price per serving in order to increase revenue.

Added by Alicia S.

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