Answer:
Relative elastic.
Explanation:
There is 10 cent increase in price, however, demand for coca-cola cans have reduced to 50 cans, which is propotionatly high.
Price elasticity of demand are percentage change in demand with percentage change in price of product. Demand has inverse relationship with price of products.
There are 4 type of price elasticity of demand:
- Perfectly elastic demand.
- Perfectly inelastic demand.
- Relatively elastic demand.
- Relatively inelastic demand.
Perfectly elastic demand: Small change in price lead to greater change in demand of products.
Perfectly inelastic demand: No change in demand of product with changes in price of product.
Relatively elastic demand: Propotionatly greater change in demand with propotionatly lesser change in price of product.
Relatively inelastic demand: Percentage change in demand is lesser than percentage change in price of product.
Answer:
The food and drug industry
Explanation:
The Pure Food and Drug Act of 1906
Answer:
Rare.
Explanation:
Rarity is when a firm has a valuable resource or capability that is absolutely unique among a set of current and potential competitors.
Answer:
C. Marginal cost will equal average total cost when marginal cost is at its lowest point.
Explanation:
Marginal cost is the cost of each extra unit sold or produced. Average total cost is the average cost of all the units which is sold or produced during the period.
If marginal cost equal to the average cost the marginal can not be its lowest point because the lowest point cost will decrease the average cost it will not be equal to average cost, otherwise at the units has same marginal cost.