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Bob bakes and decides to sell cookies for $4 a dozen. He sells 50 dozen, and decides that he can charge more. He raises the
Bob bakes and decides to sell cookies for $4 a dozen. He sells 50 dozen, and decides that he can charge more. He raises the price to $6 a dozen and sells 40 dozen. how much is The elasticity of demand?
Assuming that the elasticity of demand is constant, how many dozens would he sell if the price were $10 a box?
Of the three prices, he made the most sales revenue with the price tag of 4, 6, or 10 dollars?
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