Business

Guest

9 June, 08:55

An economist recently estimated that for every 1% increase in the price of fries at fast food restaurants, 0.44 percent fewer french fries are sold. This indicates that the demand for fast food french fries is

a. inelastic

b. unit-elastic

c. elastic.

d. perfectly inelastic

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question ✅ “An economist recently estimated that for every 1% increase in the price of fries at fast food restaurants, 0.44 percent fewer french fries ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.

Search for Other Answers

You Might be Interested in

What is the periodic interest on a credit card with a 17.99% APR? A. 1.333% B. 1.499% C. 2.665% D. 998%

The costs of the Accounting Department at Central Hospital would be considered by the Surgery Department to be: a. direct costs. b. indirect costs. c. incremental costs. d. opportunity costs.

Five years ago, Lewis Equipment purchased equipment costing $212,000. Two years ago, the firm paid $32.000 for updates to that equipment. This year, the firm sold the equipment for $189.000.

Markson Company had the following results of operations for the past year: Sales (8,000 units at $21.00) $168,000 Variable manufacturing costs $90,000 Fixed manufacturing costs 16,000 Variable selling and administrative expenses 16,000 Fixed selling

Initially, settlers in maryland could elect a representative assembly, but they could not draft legislation enforce laws change existing laws veto a law given by the king.

New Questions in Business

The revenue recognition principle dictates that revenue should be recognized in the accounting records: a. when cash is received b. in the period that income taxes are paid c. when it is earned. d. at the end of the month.

Which of the following involves trading partial ownership interests for capital? A) Equity financing B) Debt financing C) Partnership financing D) Corporate financing

Rockingham Motors issued a 30-year, 8 percent semiannual bond 3 years ago. The bond currently sells for 103.1 percent of its face value. The company's tax rate is 34 percent. What is the aftertax cost of debt?

Producer surplus is the area A. under the demand curve and above the price. B. between the supply and demand curves. C. below the price and above the supply curve. D. under the supply curve.

Arthur made a bid at an auction by calling out the amount of $250. The auctioneer acknowledged Arthur's bid. There were no higher bids, and before the fall of the auctioneer's hammer, Arthur announced that he was withdrawing the bid.