Mathematics, 14.07.2020 23:01 toricepeda82
A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D (x) = 943 - 17 x, where q is the quantity of cookies sold when the price per cookie, in cents, is x.
A) Find the elasticity.
B) At what price is the elasticity of demand equal to 1?
C) At what prices is the elasticity of demand elastic?
D) At what prices is the elasticity of demand inelastic?
E) At what price is the revenue a maximum?
F) At a price of 21c per cookie, will a small increase in price cause the total revenue to increase or decrease?
1. Increase
2. Decrease
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A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D (x) = 9...
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