As a result of the demand increasing only slightly compared to the reduction in price, the demand must be <u>inelastic</u>.
<h3>Why is the demand inelastic?</h3><h3 />
The demand is considered to be inelastic if the price elasticity is less than 1.
The price elasticity is:
= (%Change in quantity/% Change in price)
Solving gives:
= 15 / 200 ÷ 0.50 / 3.50
= -0.525
In conclusion, the demand for the shakes is inelastic.
Find out more on inelastic demand at brainly.com/question/1899986.
Answer:
a. Gerard’s contract is voidable at his option while it is entirely executory.
Explanation:
In the United States of America, one of the most widely used recognized and most cited legal treatises is the Restatement of Contracts. It allows legal luminaries (judges and lawyers) to have a general understanding of non-binding authorities in contract or common law.
According to the Restatement (second) of Contract, voidable contract is one where one or more parties have the power, by a manifestation of election to do so, to avoid the legal relations created by the contract, or by ratification of the contract to extinguish the power of avoidance.
Hence, under the Restatement, Gerard’s contract is voidable at his option while it is entirely executory.
63. In most states, whether the time within which a minor disaffirms a contract constitutes a reasonable time is determined by the fact and circumstance of the case.
174=(1+455)c
c=174/456
c=0,3815789474
Answer:
<u>A Star.</u>
Explanation:
The Boston Consulting Group (BCG) matrix depicts a product's market share against the market growth rate. The matrix is also known for it's cow- dog metaphor.
The matrix represents 4 situations namely:
1. Stars : Products with high market share in high growth markets i.e high- high situation.
2. Cash Cows: Products with high market share in low growth markets.
3. Question Mark: Products with low market share in a high growth markets.
4. Dogs: Products with low market share in low growth markets.
In the given case, the product dominates the market i.e high market share. Secondly, it operates in a high growth market. Which means, the product belongs to the situation of a Star.