The price elasticity of demand for food tends to be price inelastic when the absolute value is less than 1.0.
<h3>What is Price Elasticity?</h3>
This refers to the measure of the effect of a price change that is supplied to customers.
Hence, we can see that when factoring in the price elasticity for food items, it is price inelastic simply because food is essential and as such, the price of the food item does not have a huge impact on the demand.
Read more about price elasticity here:
brainly.com/question/5078326
#SPJ1
Answer: it would have a market share that would be 0.44
Explanation:
Company sales / Industry sales = market share
$2,850,475,620/$6,500,000,000= 0.43853
Rounded: 0.44 would be the market share.
Answer:
B. decrease in aggregate supply while aggregate demand remains unchanged
Explanation:
Supply-side inflation can be caused by a continual decrease in aggregate supply while aggregate demand remains unchanged
Answer:
$43.07
Explanation:
Strike price of Put Option = $44
Option purchased price = $0.93
Break-even point for the investor = [Strike price - Put Option purchased price}
= $44 - $0.93
= $43.07
Therefore, the Break-even point for the investor is $43.07
