The Weekly Sales in Honolulu Red Oranges Is Given by the Following

question 23

Multiple Choice

The weekly sales in Honolulu Red Oranges is given by the following equation. $q = 1,070 - 24 p$
Calculate the elasticity of demand for a price of $27 per orange. Round your answer to the two decimal places.

• A)-1.54
• B) -1.65
• C) 1.65
• D) 1.43
• E) 1.54

---

Definitions:

Sales Volume

The total number of units sold within a specified timeframe.

Unit Profits

The profit earned on each unit of product sold, calculated by subtracting the cost to produce and distribute a unit from its sale price.

Material Charge Formula

Typically refers to the calculation used to determine the cost of raw materials used in production or service delivery.

Handling And Storage

Activities involved in moving and placing products or materials in a warehouse or storage area.