Answer: The answer is elastic demand because elasticity of demand is > than 1
Explanation:Elasticity of demand is the degree of responsiveness of demand to slight change in price of goods. It is calculated as ED=% change in Qd/% change in price
Since Qd is 3 and 5
Qo-Q1/Qo*100%
3 - 5/3*100%
= -2/3*100%
= -200/3
=-66.6%(ignore the minus sign)
Po-P1/Po*100%
8-6/8*100
=2/8*100%
= 25%
ED= 66.6/25
=2.6
6-8/6*100%
=-2/6*100%
=-200/6
=-33.3%
ED= 66.6/33.3
=2
Since the elasticity of demand is greater than 2. Therefore elasticity of demand is elastic
Answer: i don’t remember this that well but i think u have to add the two numbers
Explanation:
Answer:
boi all I know is that im broke
Explanation:
bc
Answer:
Contribution margin small muffin= 3.5-2= $1.5
Contribution margin large muffin = 6-3= $3
(2/5*1.5)+(3/5*3)= $2.40
Explanation:
I would say 33.. But im not 100% sure
