5. this question is too complicated A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x) = 906-13x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f).a) Find the elasticity.E(x) =b) At what price is the elasticity of demand equal to 1?(Round to the nearest cent as needed.)c) At what prices is the elasticity of demand elastic?O A.O B.O C. Less than 35¢O D. Prices are elastic at all values.Greater than 35¢Prices cannot be elastic in this cased) At what prices is the elasticity of demand inelastic?OA. Greater than 35¢OB. Less than 35¢OC. Prices cannot be inelastic in this caseO D. Prices are inelastic at all valuese) At what price is the revenue a maximum?x=¢(Round to the nearest cent as needed. Use a comma to separate answers as needed.)f) At a price of 17¢ per cookie, will a small increase in price cause the total revenue to increase or decrease?OODecreaseIncrease

Price workability is the conception that explains the revision in price leads to an alteration…

A bakery works out a demand function for its chocolate chip cookies and finds it to be q=D(x)=906-13x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f). a) Find the elasticity. E(x)= b) At what price is the elasticity of demand equal to 1? (Round to the nearest cent as needed.) c) At what prices is the elasticity of demand elastic? OA. Greater than 35¢ OB. Prices cannot be elastic in this case OC. Less than 35¢ OD. Prices are elastic at all values. d) At what prices is the elasticity of demand inelastic? OA. Greater than 35 OB. Less than 35g OC. Prices cannot be inelastic in this case OD. Prices are inelastic at all values e) At what price is the revenue a maximum? x=¢ (Round to the nearest cent as needed. Use a comma to separate answers as needed.) f) At a price of 17€ per cookie, will a small increase in price cause the total revenue to increase or decrease? O Decrease O Increase

A bakery works out a demand function for its chocolate chip cookies and finds it to be q=D(x)=906-13x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f). a) Find the elasticity. E(x)= b) At what price is the elasticity of demand equal to 1? (Round to the nearest cent as needed.) c) At what prices is the elasticity of demand elastic? OA. Greater than 35¢ OB. Prices cannot be elastic in this case OC. Less than 35¢ OD. Prices are elastic at all values. d) At what prices is the elasticity of demand inelastic? OA. Greater than 35 OB. Less than 35g OC. Prices cannot be inelastic in this case OD. Prices are inelastic at all values e) At what price is the revenue a maximum? x=¢ (Round to the nearest cent as needed. Use a comma to separate answers as needed.) f) At a price of 17€ per cookie, will a small increase in price cause the total revenue to increase or decrease? O Decrease O Increase

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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