1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Evgesh-ka [11]
3 years ago
6

For the first time in two years, Big G (the cereal division of General Mills) raised cereal prices by 4 percent. If, as a result

of this price increase, the volume of all cereal sold by Big G changed by -2 percent, what can you infer about the own price elasticity of demand for Big G cereal?
a. elastic
b. inelastic
c. unit elastic

Can you predict whether revenues on sales of its Lucky Charms brand increased or decreased?

a. Yes - it increased.
b. No - you can't tell.
c. Yes - it decreased
Business
1 answer:
bearhunter [10]3 years ago
7 0

Answer:

b. inelastic

c. Yes - it decreased

Explanation:

Elasticitiy of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded/ percentage change in price

= -2/4 = -0.5

The absolute value is 0.5

If the absolute value of the coffiecnet of elasticity of demand is less than one, demand is inelastic.

Demand is inelastic if a change in price has no effect on quantity demanded .

We can tell that the quantity demanded fell because of the negative sign in front of the percentage change in quantity demanded.

I hope my answer helps you

You might be interested in
Xavi develops a cell phone battery that can be charged by a solar panel and can run efficiently for up to three hours. His frien
Bad White [126]

Answer: (A) Vision          

Explanation:

  According to the given scenario, the Xavi is basically demonstrating about the vision about their new startup EnerMob Inc., company in which he planning to promote the concept of cell phone batteries which is typically charged by the solar panel.

Xavi is basically developed the proper vision of his company so that it helps in achieving his main objective for selling the new cell phone batteries products in the market and by using the promoting strategy we influence the customers.

The vision is the term which is used to define the main objective and goal of an organization so that by proper planning we can easily achieve the desirable goals.  

 Therefore, Option (A) is correct answer.  

 

5 0
3 years ago
What is the difference between an internal obstacle and an external obstacle to time management?
wolverine [178]

Internal obstacle can rise from within the organization causing problems while external obstacle is from outside

3 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
nikdorinn [45]

Answer:

Cold-calling is the prospecting step of selling.

8 0
3 years ago
On June 1, 2017, Larkspur sold 100 washer/dryer units without installation to Laplante Rentals for $69,000. Laplante is a newer
Gekata [30.6K]

Answer:

The journal entries to record the sale on June 1 are:

June 1, 2017, 100 units of washer/dryer to Laplante Rentals

Dr Cash 69,000

    Cr Sales revenue 69,000

Dr Cost of goods sold 40,000

    Cr Inventory 40,000

If the next question asks to record the return privilege and estimates, it should be recorded as both an asset (estimated returns inventory) and a liability (customer refunds payable).  

4 0
3 years ago
Ch.11 marketing what are the four characteristics used to classify​ retailers?
Nataly_w [17]
The basic characteristics of a retailer is its retail mix - the essentials used to satisfy its customers' needs
Four elements of retail mix:
1.Type of merchandise sold
2. Variation and assortment of merchandise sold
3. Level of customer service
4.Price of the merchandise
6 0
3 years ago
Other questions:
  • Workers with knowledge-based education and managerial skills are
    15·2 answers
  • Quizlet MODULE 1: STRATEGIC HUMAN RESOURCE MANAGEMENT (SHRM) (Wright, 2008) 1. List and describe the components of Porter’s Stra
    12·1 answer
  • When overapplied / underapplied overhead is prorated, the basis for proration is:?
    11·1 answer
  • Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u
    9·1 answer
  • a. The owner invested $18,000 cash in the company in exchange for its common stock. b. The company purchased supplies for $1,250
    9·1 answer
  • What are the primary functions of a central bank?
    14·1 answer
  • Hailey files a discrimination charge against her company as it pays less wages to African American employees. The company demote
    5·2 answers
  • You expect General Motors (GM) to have a beta of 1.5 over the next year and the beta of Exxon Mobil (XOM) to be 1.9 over the nex
    6·1 answer
  • It is important to know your own strengths and weakness.<br> True or False
    8·2 answers
  • On June 1, 2018, Andre Company and Agassi Company merged to form Lancaster Inc. A total of 800,000 shares were issued to complet
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!