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.)

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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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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