100 95 93 86 im found the data above with a very popular breakfast that they sell. tal revenue with every price of the breakfast ( imum revenue possible?

Microeconomics: Private and Public Choice (MindTap Course List)
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Chapter7: Consumer Choice And Elasticity
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Breakfast A price number sold per week
(AED)
55
100
60
95
65
93
70
86
In a cafeteria Ibrahim found the data above with a very popular breakfast that they sell.
A. Calculate the total revenue with every price of the breakfast (4
B. What is the maximum revenue possible?
C. Using the standard formula, calculate the price elasticity of demand when the price changes from 60 to 65 dirham.
D. According to your results in A, B and C, what is the best decision that Ibrahim should take about the price he should charge for the breakfast
Mac)
Transcribed Image Text:Breakfast A price number sold per week (AED) 55 100 60 95 65 93 70 86 In a cafeteria Ibrahim found the data above with a very popular breakfast that they sell. A. Calculate the total revenue with every price of the breakfast (4 B. What is the maximum revenue possible? C. Using the standard formula, calculate the price elasticity of demand when the price changes from 60 to 65 dirham. D. According to your results in A, B and C, what is the best decision that Ibrahim should take about the price he should charge for the breakfast Mac)
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