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A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x)=743-15x, where q is the
A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x)=743-15x, 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. Prices are elastic at all values. B. Prices cannot be elastic in this case OC. Less than 25 OD. Greater than 25 d) At what prices is the elasticity of demand inelastic? OA. Prices are inelastic at all values OB. Less than 25 OC. Prices cannot be inelastic in this case OD. Greater than 25 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.)
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