1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BARSIC [14]
2 years ago
5

When the price of Milk is $5 per gallon consumers demand 1,000 boxes of Boo Berry Cereal. When the price of milk increases to $5

.50 per gallon consumers demand 700 boxes of Boo Berry Cereal.
Required:
a. What is the percentage change in the price of milk?
b. What is the percentage change in the quantity demanded for Boo Berry Cereal?
Business
1 answer:
alexandr1967 [171]2 years ago
6 0

Answer: a. 10%

b. -30%

Explanation:

a. What is the percentage change in the price of milk?

Old price = $5.00

New price = $5.50

Percentage change = ($5.50 - $5.00)/$5.00 × 100

= 0.50/5.00 × 100

= 1/10 × 100

= 10%

Percentage change on price = 10%

b. What is the percentage change in the quantity demanded for Boo Berry Cereal?

Old quantity = 1000

New quantity = 700

Percentage change = (700 - 1000)/1000 × 100

= -300/1000 × 100

= -30%

The percentage change in the quantity demanded for Boo Berry Cereal is -30%.

You might be interested in
It is possible to possess elements of more than one learning style.
kramer
Yes it is possible to posses elements of more than 1.
5 0
2 years ago
Which of the following is NOT a supertrend affecting the future of business? Multiple Choice Offshore suppliers are changing the
Yakvenalex [24]

Answer:

A multiple choice offshore suppliers are changing the way work

6 0
3 years ago
When is it appropriate to use a nontraditional résumé?
MissTica

Answer: Nontraditional resumes are ideal for job seekers in particularly creative industries, such as marketing and design. More specifically, online resumes are helpful for applicants who want to post films, sound clips, photographs, or other pieces of work related to their industry.

Explanation:

4 0
2 years ago
What market structure has many relatively small buyers and sellers, a standardized product, good information to both buyers and
Ganezh [65]

Answer:

Perfect Competition

Explanation:

Perfect competition is a market characterized by many buyers and sellers that have full information and faces no barrier in entry and exit of the markets. It is the ideal form of market structure where competition is at is greatest possible value. The numerous buyers and sellers are engaged in trade of a homogeneous good in the market. It is also characterized by no long run economic profit and no control over prices.

5 0
3 years ago
Read 2 more answers
Two firms, A and B, each currently dump 50 tons of chemicals into the local river. The government has decided to reduce the poll
vitfil [10]

Answer:

d. Firm A will spend $4,000.

Explanation:

Since Firm B cost of Cleanup before it gets the the river is less than the cost of pollution permits, it will choose to clean up its pollution.

However, since Firm A cleanup cost per ton ($100) is greater than the cost of the pollution permit, it will choose to buy permits.

Maximum Allowable Number of Permits=40

Therefore, Firm A will clean up 10 Tons and dump 40 Tons of Waste.

Cost =(10 Tons *$100)+(40 Tons * $75)

=$(1000+3000)

=$4000.

Firm A will spend $4000.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Create a list of five action verbs you might use on a job application to describe skills and/or work history.
    7·1 answer
  • Which influential washington interest group has a membership of 40 million?
    15·1 answer
  • Over the last two decades the combination of the internet, high definition TV, and the surround sound has revolutionized watchin
    10·1 answer
  • The Baldrige Award aims to: (I) publicize successful quality programs. (II) recognize quality achievements of U.S. companies. (I
    14·1 answer
  • In the country of Mashwen, the state owns key industries such as energy andtransportation. The rest of the industries are privat
    9·1 answer
  • What makes a checking account more conveniant than a savings account?
    11·2 answers
  • On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 4,100 units of Comfort Office Keyboard to one of its clients
    12·1 answer
  • In the short run, a purely competitive seller will shut down if Multiple Choice it cannot produce at an economic profit. there i
    12·1 answer
  • At a sale of polarizing sunglasses, there is a half-price special on some glasses with lenses that have a horizontal polarizatio
    8·1 answer
  • if the equilibrium output is above the gdp potential then the gap between the output and potential gdp would be called a(n)
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!