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Price elasticity of demand for bananas

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If the price elasticity of demand for bananas is -1.5 and the price elasticity of demand for grapefruit is -2.5, and the marginal cost of producing each of the items is $0.50 each, what is the profit-maximizing price for each?
Question 9 answers

Bananas: $1.50; Grapefruit: $0.83

Bananas: $0.75; Grapefruit: $1.25

Bananas: $0.34; Grapefruit: $0.20

Bananas: $0.75; Grapefruit: $1.25

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The price elasticity of demand for bananas are examined.

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