Sorry this isn’t an answer but do all schools take a star test?
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The price elasticities of demand of sugar-free gummy bears and of ordinary gummy bears is -0.8 and -2.3 respectively.
<h3>How to calculate price elasticity</h3>
Change in price of gummy bears = $2. 60 to $3
Elasticity of demand of sugar-free gummy bears =
[(273-379 / (273+379)/2] ÷ [(3.00-2.60)/(3.00+2.60) / 2]
= [-18/166] / [0.4/2.8]
= -0.10843373493975 / 0.14285714285714
= - 0.75903614457826
Approximately, -0.8
Elasticity of demand of regular gummy bears:
Sugar free = [(273-379) / (273+379)/2] ÷ (3.00 +2.60) / 2]
= [-106/326] / [0.4/2.8]
= -0.32515337423312 / 0.14285714285714
= -2.2760736196318
Approximately, -2.3
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Based on the information given, the additional information that is needed to determine the amount of his earnings will be the number of hours at each job.
From the information given, we are told that George earns $6. 25 per hour from one part-time job and $7. 50 per hour from the other part-time job and that he works a total of 40 hours between the two jobs each week.
Therefore, the additional information required will be the number of hours at each job. This will be vital in solving the question
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