I am struggling with this question, could you please help me? c. What is the price elasticity of demand for Elixir water at the profit maximizing quantity? 2. Article – According to the article, how are existing grocery stores affected when new grocers enter themarket?They have t offer lower prices to compete with the ofhergrosers. Compumies of ten specializevways to porchase liKe ouline shopping orMoreto offer lowoffer differentdrive thru.ev.options and this affects dewdenr.grocorystores wMensmoveB. Elixir Spring produces a unique and highly prized mineral water. The firm's fixed cost is $5 a day andits marginal cost is $1. The table below shows the demand schedule for Elixir water.MarginalCostPrice QuantityTotalMarginalFixedTotal Cost(2)(bottles)RevenueRevenueCost[hint: TC=(MC x Q) + FC100.9.9.8.7.7.8.43.25106.243213.128.1 39.140.106-a. Complete the total revenue and marginal revenue schedules in the table above.b. Calculate Elixir's profit maximizing output$45profit maximizing priceand economic profit.T TR-TC= 25-10=$15. What is the price elasticity of demand for Elixir water at the profit maximizing quantity?(Hint: compute elasticity for an increase in price by +$1 and a decrease in price by -$1 from.the equilibrium price you found in part b.)c.S535 51.2.3.64-2.

Name: I am struggling with this question, could you please help me? c. What
Uploaded: 2024-03-20T07:07:26.000Z
Channel: Bartleby
Description: I am struggling with this question, could you please help me? c. What is the price elasticity of demand for Elixir water at the profit maximizing quantity? 2. Article – According to the article, how are existing grocery stores affected when new groce