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What airpod pro price elasticity of demand

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Apple Inc.estimates that a 15% increase in price of Airpod Pro would cause an 20% reduction in the quantity of product sold. Total fixed costs for the product are $500,000 and total variable costs are $600,000, based on production of 4,000 units.

Question 1: Airpod Pro price elasticity of demand and profit maximizing price are :

Select one:

Option a. -1.57 and $413.16

Option b. -1.57 and $329.92

Option c. -1.43 and $329.92

Option d. -1.43 and $413.16

Reference no: EM132576677

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