The demand function for yo-yos is D (p, M) = 4 – 2p + 1/100 M, where p is the price of yo-yos and M is income. If M is 100 and p is 1, What is the income elasticity of demand for yo-yos? _________ What is the price elasticity of demand for yo-yos? _________ If the demand function for zarfs is P = 10 – Q, At what price will total revenue realized from their sale be at a maximum? ____________ How many zarfs will be sold at that price? _____________ The demand function for football tickets for a typical game at a large Midwestern university is D(p) = 200,000 – 10,000 p. The university has a clever and avaricious athletic director who sets his ticket prices so as to maximize revenue. The university’s football spectators.

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