153 Grp ch6 HWelaB1docx ch6 45 Name pointsscore IYou work at

1:53 Grp ch6 HWelaB-1.docx ch.6 45 Name pointsscore: I)You work at a supermarket and the quantity of cereal sold surges because of a increaseldecrease in the price of milk 2)Cereal and 3)While working at store, during a Pepsi promotion, you sell more/less Coke. 4)Pepsi and Coke are substitutes/compliments. 5) Whipped cream and jet engines are substitutes compliments/not linked 6)Your thrift store sells more used furniture than ever before at the same prices. Income fell rose 7)Used furniture in Lewis County is an inferion normal good 8)You work for jeweler and sell more due to an increase decrease in income 9Jewelry is a inferior normal good 10)Sixty patients are rushed to the hospital with life threatening trauma. Due to increasing costs, the ambulance company raises the price and the ER still receives 60 patients per week on average. The demand for this service is perfectly elastic/inelastic. I1)Your grandparents grow apples which currently sells for $25 per bushel. Since they are Wash apples, your grandparents ask for $26 per bushel and get no buyers. When they finally give in and accept the $25 price, they sell all their crop. The demand for apples is perfectly elastic/inelastic. 12)You walk into a convenience store and offer to pay S4 per bag of chips and the cashier says he has 40 bags. You then offer to pay $3 now and he says he nonetheless stll has bags. You then offer to come back in the morning and he says then he will supply bags for $S each. Finally you offer to come back in a whole week s time and pay then the $5 per bag price to which he says that he will then gladly supply bags. (many combinations of numbers for this question are correct so long as they are 13-15)You serve 500 meals a day at a restaurant where the typical entrée sells for $12. During a S10 special you serve 765. 13)You did more sales in DOLLARS before/after the special 14)Demand is price elastic/inelastic. 15)The elasticity of D for meals measures to be hint: (Q change/avg Q)(P change/avg P = coef) 16-18)You sell 300 packs of cigarettes per weck behind the customer service counter at $7 each. The state raises the prices again and now to S8 and you sell 16 less packs per week 16)You did more dollar sales before/after the increase. for cig.s is price elastic/inelastic. 18)The elasticity of demand for cigarettes measures out to be You sell 4 truckloads of pencils for S5 per box. The factory pushes you to have a promotion and so you sell 5 trackloads at $4 per box. 19)You did more dollar sales before/after/neither the sale. 20Demand for pencils is price elastic inclastic unit 2)The elasticity 17)Demand Courses Calendar To Do Inbox

Solution

1) quantity of cereals sold surges because of a DECREASE in Price of milk.

2.) Cereals and milk are complimentary goods.

3) During a pepsi promotion, Coke is sold less.

4) Coke and Pepsi are substitutes.