QUESTION 14 Ted's Trailers sells horse trailers in a competitive market. The variable costs of producing the one hore traler an 8 Information from prior years indicates that a 10% increase in the trailer's slling price reul in 15% decrene n utm demand.Calculate the price elasticity of demand and the profit-maximizing price for the one horse taler e be useful: In (0.2)= -1.609 In (0.5)= -0.693 In (0.85)=-0.16252 iny In (1.1) 0.09531 In (0.8) 0223 Ted's price elasticity of demand is OA.0.16252 OB.-0.9531 OC.-1.70516 D.-1.609 m