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Below is the question. 3. Suppose Jake, Jobu, and Jonathan own a craft brew startup, J 3 Brew, selling homemade beer. Their unit cost is

Below is the question.

3. Suppose Jake, Jobu, and Jonathan own a craft brew startup, J³Brew, selling homemade beer. Their unit cost is constant at MC=$2.70 per bottle.The last time they raised the price 1%, it resulted in a 1.90% changein quantity demanded.They are currently charging $5 for a beer.

a. Should they adjust their price from $5? What is the optimal price?

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