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alisha [4.7K]
3 years ago
6

The demand for Cheerios cereal is more price-elastic than the demand for cereals as a whole. This is best explained by the fact

that:
A. Cheerios are a luxury
B. Cereals are a necessity
C. There are more substitutes for Cheerios than for cereals as a whole
D. Consumption of cereals as a whole is greater than consumption of Cheerios
Business
1 answer:
lutik1710 [3]3 years ago
6 0

Answer:

C. There are more substitutes for Cheerios than for cereals as a whole

Explanation:

Since in the question it is given that the demand for  Cheerios cereal is more price-elastic than the demand for cereals as a whole as because there are more substitutes for Cheerios as compare to cereals because in the case of substitute goods, there is a positive relationship between the price of good B and the demand of good A. It means if the price of good B decline. then the demand of good A is decreases and vice versa

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Customer's journey. is defined as the active research process someone goes through leading up to a purchase. It is called a journey because each one of your prospective customers will be at different points in their journey towards a purchase.

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I've taken this quiz, 1.92% is the right answer.
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Which of the following is most likely to be true?

A

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Willa and Westley are siblings who built a hair salon business from the ground up. They are now contemplating opening an additio
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The performance management approach that uses job performance evaluations to identify a company's best, average, and worst performing employees, using person-to-person comparisons, is known as "forced ranking".

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