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A bakery works out a demand function for its chocolate chip cookies and nds it to be q = D(x) = 583 - 22x, where
A bakery works out a demand function for its chocolate chip cookies and nds it to be q = D(x) = 583 - 22x, 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). (I) a) Find the elasticity. E(x) = D b) At what price is the elasticity of demand equal to 1? .9: (Round to the nearest cent as needed.) c) At what prices is the elasticity of demand elastic? {:j) A. Less than 13 {I} B. Prices cannot be elastic in this case {I} C. Greater than 13 C? D. Prices are elastic at all values. d) At what prices is the elasticity of demand inelastic? {:2 A. Less than 13 C? B. Prices are inelastic at all values
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