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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Answer:
change in amount of liquid, change in smell or color, bubbling, foaming, fizzing
Explanation:
If a stock market crash were to occur, then stockholders would lose some, if not all oftheir money. This means that companies are not able to generate investment money forexpansion. Companies then might experience lower profits because people do not have<span>enough money to buy goods, and then they may have to lay-off their workers.</span>
An Economic Good that I have used today is a laptop and an Economic Service that I have used today is bank.
Economics can be defined as a field of science that is focused on the analysis and examination of various principles that influence the production, demand and supply of goods and services.
Another purpose for the studying economics is to examine certain principles that influence the production of goods and services.
So, we can conclude that economics states that we are all consumers and a consumer is someone who uses both economic goods and services.
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