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KonstantinChe [14]
3 years ago
7

MIT economist Jerry Housman has estimated the price elasticity of demand for Post Raisin Bran cereal to be -2.5 and the price el

asticity of demand for all types of breakfast cereals to be -0.9. The demand for Post Raisin Brand cereal is:__________ 1. elastic 2. inelastic the demand for all types of breakfast cereals is:_____ 1. inelastic2. elastic
Business
1 answer:
Diano4ka-milaya [45]3 years ago
5 0

Answer:

The demand for Post Raisin Brand cereal is: ELASTIC  

the demand for all types of breakfast cereals is: INELASTIC

Explanation:

To calculate the price elasticity of demand (PED) we can use the following formula:

PED = % change in quantity / % change in price

  • If PED > 1, the demand is price elastic
  • If PED = 1, the demand is price unitary
  • If PED < 1, the demand is price inelastic

*The PED always results in a negative number, e.g. price deceases, quantity increases, but for practical reasons we convert the negative number into a positive (we use absolute values) when we are determining the elasticity.

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In any courtroom for making the case strong, one has to present evidence that is real like fingerprints, blood samples, DNA, a knife, a gun, and other physical objects.

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1 year ago
Use the following Window Breeze Company income statement to answer the question. Window Breeze Company is a small manufacturer o
Vikki [24]

Missing information:

How much is the value of full costing ending inventory?

Answer:

$8,750

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Full costing basically refers to absorption costing, which calculates COGS using both variable and fixed costs (total production costs).

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In 2005, Clear Channel (an owner of multiple popular radio stations) spun off concert promoter Live Nation into an independent c
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The statement the price of radio programming should fall is false.

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Hence, Based on the scenario the statement is false because assuming the both music radio ,and concert are complements in consumption the price of radio  programming will not fall.

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