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vlabodo [156]
3 years ago
9

If the income elasticity for breakfast cereal is 0.6, and incomes increase by 10%, the demand for breakfast cereal will _____ by

_____%. Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices decrease; 6 increase; 6 decrease; 12 increase; 12
Business
1 answer:
uranmaximum [27]3 years ago
7 0

Answer:

the quantity demanded for cereals will increase by 6%

Explanation:

as the consumer increase their consumption base on a higher income, a 10% increase in the consumer income will translate to a 6% in the quantity of cereals. That's because we know that:

Δcereals / Δincome  =  income elasticity

Δcereals / 10% = 0.6

Δcereals = 10% x 0.6 = 6%

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they generally manage hotels for a fee

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Love Languages is introducing an improved version of its tutoring targeted to students wanting more in-depth assistance using a
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Answer: Modified product strategy

Explanation:

 The modifying product strategy is one of the important strategy in the market as it basically refers to the value adding information and also modification in the existing products.

  • The modified product strategy also known as the product life cycle where the existing products are get modified according to the new product strategy.
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Therefore, the modified product strategy are used by the company for producing various types of new products and their aim is to produce the new product in the given original target in the market.

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3 years ago
The sum of all the federal deficits over time is known as the
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7 0
3 years ago
hich of the following is not one of the assumptions of the basic EOQ model? Annual demand requirements are known. Lead time does
Tatiana [17]

Answer:

Quantity discounts are available

Explanation:

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3 0
3 years ago
Panda Company is owned equally by Min, her husband, Bin, her sister Xiao, and her grandson, Han, each of whom hold 100 shares in
otez555 [7]

Answer:

300 shares

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Based on Family attribution rules the rules often requires that the family attribution should occur between parents, their children and grandchildren, regardless of their age.

But based on the information given in which Panda Company is owned equally by Min, her husband, Bin, her sister Xiao, and her grandson, Han in which each of them hold 100 shares in the company which means Under the family attribution rules we would excludes Min sister Xiao from the shares.

Hence, the shares of Panda stock that Min is deemed to own will be:

Min +husband Bin + her grandson Han =3 individual

100 shares ×3=300 shares

Therefore Under the family attribution rules, 300 shares of Panda stock is what Min is deemed to own

7 0
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