A soft drink's price elasticity of demand is lower than Coca-Cola's, which is more sensitive to price. This is due to the ease with which consumers can switch from Coca-Cola to other comparable soft drink alternatives, such as Pepsi.
- However, it would be challenging to replace soft drinks as a whole with alternative products. The price elasticity of demand for soft drinks, in general, is lower than the price elasticity of demand for Coca-Cola because there are no other close substitutes for them.
- The quantity required of a thing or service changes in response to a change in the product's price, and this is measured by the price elasticity of demand. It is computed by subtracting the product's price change from the quantity demanded, divided by the product's price change.
- Because the quantity of Coca-Cola products demanded frequently changes when prices vary, these products are thought to have an elastic demand.
Know more about coca-cola:
brainly.com/question/14602871
#SPJ4
Answer:
1. Increase in number of orchards
2. Increase in housing prices
Explanation:
1. What effect is the new diet likely to have on the number of apple orchards within 100 miles of New York City?
There is going to be increased demand for apples due to this new diet and this increase in demand is going to bring about a hike in the price for apples. This price increase would make business to be viable for these apple farmers. More people would want to own orchards just to make money out of the boom in apples. Because apple farming now seems to be more profitable than other activities. <u><em>So this would cause the number of apple orchards that are within 100 miles of new york city to increase.</em></u>
2. What effect is the diet likely to have on housing prices in New York City?
- There would be an increase in housing prices in New york city as farmers would rather be planting apples on these lands instead of sellng them to developers for building houses. There would be a decrease in the supply of housing in New york.
<span>Operational management manages activities that are involved in creating value by producing goods and services and distributing them to customers.
</span>Effectiveness is a term used in operational management to describe using resources to create value by providing customers with goods and services that offer a better relationship between price and perceived benefits.
Answer:
A.
Explanation:
The word 'slumming' can be defined as an act of going to socially low-level area and spending time there either with the purpose to do charity or just out of curiosity.
Harlem is a city located in the neighbourhood of New York City after blacks migrated to the place the city became a restricted area to go.
But in the early 1920s, the whites began slumming to Harlem. They left their sophisticated ways to get a share of black life. They packed themselves in speakeasies, dancehalls, jazz clubs, etc.
So, the correct answer is option A.
Answer:
a. It will take her 5 years to pay for her wardrobe
b. She should shop for a new card once she is done paying for this one.
c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.
Explanation:
Use the formula below to determine the number of months it would take Rachel to pay off her debt;
C *{1-(1+r)^(-n×t)}/(r/n)=PV
where;
C=annuity
r=annual interest rate
n=number of compounding periods in a year
t=number of years
PV=present value
In our case;
PV=$10,574
C=$260
r=16%=16/100=0.16
n=12
t=unknown
replacing;
260*{1-(1+0.16/12)^(-12×t)}/(0.16/12)=10,574
1-(1+0.16/12)^(-12×t)={10,574×(0.16/12)}/260
1-{1.013^(-12 t)}=0.542
(1-0.542)=1.013^(-12 t)
ln 0.458=-12 t (ln 1.013)
t=-ln 0.458/12×ln 1.013
t=5
It will take her 5 years to pay for her wardrobe
b. She should shop for a new card once she is done paying for this one.
c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.
