Question: Suppose that Super Market increased the price of a dozen free-range eggs from $5.50 to $6.50. As a result, it found that the daily

Suppose that Super Market increased the price of a dozen free-range eggs

Suppose that Super Market increased the price of a dozen free-range eggs from $5.50 to $6.50. As a result, it found that the daily quantity sold fell from 42 to 38 dozen. o What is the price elasticity coefficient of demand for eggs? Round your answer to 1 decimal place. b) What was Super Market's total revenue from eggs before and after the price change? Before the price change: S After the price change: S c) What does your answer to (b) suggest about the price elasticity of demand for eggs? The price elasticity of demand for eggs is (Clickto select)v 2nelastic or elastic The following week, Super Market increased the price of a dozen muffins from $16.00 to $19.00. The result was a drop in the daily quantity of muffins sold from 10 to 8. d) What is the price elasticity coefficient of demand for muffins? Round your answer to 2 decimal places. e) What was Super Market's total revenue from muffins before and after the price change? Before the price change: S After the price change: S f) What does your answer to (e) suggest about the price elasticity of demand for muffins? The price elasticity of demand for muffins iS -Inelastic or elastic

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