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1. The following data is from the demand for chocolate cookies: Producer reduces the price of...

1. The following data is from the demand for chocolate cookies:
Producer reduces the price of some cookies from 12 to 10 cents. Find out that the quantities sold increased from 210 to 250 units:

a) Calculate the price elasticity of cookies.

b) Present the graph; Indicate if it is Price Elasticity of Demand or Supply.

c) if it is elastic, inelastic or unitary.

d) If the price elasticity coefficient in varieties is (- 3.0). What happens if I lower the price by 15%? What will be the quantity of cookies demanded?
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