Demand for a blender is q = D(p)=2500p-p^3 where q is the number of blenders demanded at price $p?
At a price of $30, the number of blenders demanded is 48,000.
So, at a price of $30, the revenue is $1,440,000.
1. what is the price elasticity of demand if the price is $30, how would a 1% increase in price affect the demand, what is the new increased price/demand/revenue?