In this lesson, you will learn how to find the optimum price and maximum revenue for a situation using numerical derivatives, tables, and graphs on a TI graphing calculator. The instructor demonstrates how to input the elasticity formula into the calculator and how to evaluate the elasticity at any given price. The lesson covers how to use a table or graph to find the optimal price, and how to find the revenue by evaluating the demand function at the optimal price and multiplying it by the price. With this lesson, you can master the techniques for finding optimal prices and maximum revenue.
Learn about elasticity and how to find the optimum price and maximum revenue for a situation using numerical derivatives, tables, and graphs on a TI graphing calculator.
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