(Solved): The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula \( q=103 e^{- ...

The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula \( q=103 e^{-3 p^{2}}+p \), where \( q \) is the demand in monthly sales and \( p \) is the retail price in hundreds of yen. (a) Determine the price elasticity of demand \( E \) when the retail price is set at \( ¥ 700 \). \( E= \) Interpret your answer. The demand is going \( x \) by \( x \) ber \( 1 \% \) increase in price at that price level. Thus, a large price \( x \) is advised. (b) At what price will revenue be a maximum? \( x \) hundred yen (c) Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.) \( x \) paint-by-number sets per month