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QUESTION 9 On Jetstar flights. passengers have to pay extra for food and drinks. Assume the only product that Jetstar sells on the plane is
QUESTION 9 On Jetstar flights. passengers have to pay extra for food and drinks. Assume the only product that Jetstar sells on the plane is packets of potato chips. Each packet costs Jetstar $4 (hint: the marginal cost is constant at $4 per packet). Currently Jetstar charges $4.50 for a packet of chips. Below is a table of potential prices Jetstar could charge and the corresponding quantities. Price Quantity ($Ipacket) (packets) 6.50 30 6.00 42 5.50 56 5.00 72 4.50 92 4.00 105 Answer the following questions: a. What is Jetstar's marginal revenue when the price is $4.50 per packet? Answer to the nearest two decimal places. $ per packet. b. At a price of $4.50 per packet. should Jetstar decrease or increase the packets of chips sold to maximise profit? . Type D for Decrease or | for Increase. 0. Calculate Jetstar's profitmaximising quantity of packets to sell. Answer to the nearest whole number (with no decimal places). packets
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