You are the manager of Frozen Super Paws Treats, the dominant firm in market for frozen ice cream treats for dogs. At your current production level, your marginal cost is $1.00 and you have estimated that your price elasticity of demand is between 1.5 and 1.6. What range of prices should you charge to maximize your profit?
A) The range between $2.17 and $3.53.
B) The range between $3.17 and $3.53.
C) The range between $3.27 and $3.62.
D) The range between $2.67 and $3.00.
D) The range between $2.67 and $3.00.
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