Question: a using the table provided and excel functions calculate quantity...
Question details
a) Using the table provided and Excel functions, calculate
quantity demanded for each of the prices
given.
b) Using the prices provided and quantity demanded you calculated
in part a, calculate elasticity (in absolute terms) for each point
along the demand
curve.
Q =1000  150 P
Price 


6.00 

5.75 

5.50 

5.25 

5.00 

4.75 

4.50 

4.00 

3.75 

3.50 

3.20 

3.00 
c) At which prices is demand elastic, inelastic, and unit elastic? Enter your answers using cell references to the table above.
Price From 
Price To 

Elastic 

Inelastic 
The demand is unit elastic at some price between ____ and ____.
d) Are there prices between $3 and $6 which you are certain the company should not charge based on the elasticities you observe? Assume your ice cream must be priced in $.25 increments.
The company should not charge below? .
e) If the goal of this firm was to maximize revenue, what price would you recommend they charge for a pint of ice cream? Use functions and Excel's Solver functionality.
Price (P) =
Quantity (Q) =
Revenue =