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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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The answer is D

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Cost behavior refers to the methods used to estimate costs for use in managerial decision making. True False
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True

Explanation:

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5 0
2 years ago
Read 2 more answers
Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of
guajiro [1.7K]

Answer:

Decrease by $132,100

Explanation:

Computation of the given data are as follow:-

We can calculate the  Operating Income by using following formula:-

Fixed Cost = Fixed Cost * Dropped Rate

= $193,000 * 30/100

= $57,900

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= $132,100

According to the Analysis, the operating income will be decrease by $132,100 if the business segment is eliminated.

3 0
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