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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

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Campbell's soup used several advertising campaigns that stressed the benefits of soup in general. for example, one tagline used
enot [183]

Answer:

The correct answer is letter "A": generic problem recognition.

Explanation:

While talking about how consumers recognize problems, generic problem recognition refers to a marketing strategy by which different features of a product are promoted highlining the benefits it carries over satisfying the same need. The more features are presented of the product, the more chances to increase its market share.

Therefore, <em>by portraying consumers the different benefits of its soup, Campbell aimed to stimulate the generic problem recognition.</em>

7 0
3 years ago
As winner of a breakfast cereal competition, you can choose one of the following prizes: a. $100,000 now.
Shkiper50 [21]

answer

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7 0
3 years ago
Contingent Liabilities must have the following criteria (select all that apply): Select one or more: A. The obligation is certai
Leya [2.2K]

Answer: Option B and C

                                     

Explanation: In simple words , contingent liabilities refers to the liabilities the occurrence of which depends on the happening of an event that may or may not occur in the future.

These are recorded in the accounts only when  the payment is to be made in future and that payment could be reasonably estimated.

Hence the correct option is B and C

3 0
3 years ago
Bodin Company manufactures finger splints for kids who get tendonitis from playing video games. The firm had the following inven
Ilia_Sergeevich [38]

Answer:

Raw Material $191,000

Direct labor $300,000

Actual manufacturing overhead $170,000

Actual selling and administrative expenses $115,000

The company applies manufacturing overhead at the rate of 60 percent of direct-labor cost.

1.

Prime Cost = Direct Material + Direct Labor

Prime Cost = $191,000 + $300,000 = 491,000

2.

Cost of goods manufactured                                    $

Direct material                                                      $191,000

Add: Direct Labor                                                $300,000

Add: Manufacturing overhead                           <u>$170,000</u>

Manufacturing cost                                             <u>$661,000</u>

3.

Manufacturing cost                                             $661,000

Add: Work in process inventory at January 1    $235,000  

Less: Work in process inventory at January 31 <u>$251,000</u>

Cost of Goods Manufactured                             <u>$645,000</u>

4.

Cost of Goods Manufactured                             $645,000

Add: Finished Good inventory at January 1      $125,000  

Less: Finished Good inventory at January 31   <u>$117,000</u>

Cost of Goods Sold                                            <u>$653,000</u>

5.

Manufacturing overhead Account Balance

Actual overhead                = $175,000

Manufacturing overhead   = $180,000  (300,000 x 60% )

Over applied manufacturing overhead = $180,000 - $175,000

Over applied manufacturing overhead = $5,000

* Data was missing for the calculations, complete question is attached with this answer, Please find that.

3 0
3 years ago
Suppose Dexter and Amy are the only members of a community that is trying to determine how much of a public good should be produ
Olin [163]

Answer:

c.

Explanation:

4 0
3 years ago
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