1. Suppose thatIkea's per unit cost of a model of desks that its sells in its retail outlets is $50. Ikea practices cost-plus pricing and charges a 200 percent markup. If this markup also maximizes Ikea's profit on this model of desks, we can conclude that the price elasticity of demand for this model of Ikea desks is:
2. -1.67.
3. -0.50.
4. -1.40.
5. -1.50.
6. -2.00.

I don't need detailed explanation, just main steps and answer