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A bakery works out a demand function for its chocolate chip cookies and finds it to be g= D(x) = 950 – 14x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f). a) Find the elasticity. - 14x E(x) = 14x- 950 b) At what price is the elasticity of demand equal to 1? ¢ (Round to the nearest cent as needed.)

A bakery works out a demand function for its chocolate chip cookies and finds it to be g= D(x) = 950 – 14x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f). a) Find the elasticity. - 14x E(x) = 14x- 950 b) At what price is the elasticity of demand equal to 1? ¢ (Round to the nearest cent as needed.)

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section: Chapter Questions
Problem 7T
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A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x) = 950- 14x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f). ... a) Find the elasticity - 14x E(x) = 14x- 950 b) At what price is the elasticity of demand equal to 1? ¢ (Round to the nearest cent as needed.)
Transcribed Image Text:A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x) = 950- 14x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this information to answer parts a) through f). ... a) Find the elasticity - 14x E(x) = 14x- 950 b) At what price is the elasticity of demand equal to 1? ¢ (Round to the nearest cent as needed.)
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