1 answer

Choose which would have greater price elastic demand and explain why: 1. Black coffee or Starbucks...

Question:

Choose which would have greater price elastic demand and explain why:

1. Black coffee or Starbucks coffee?


Answers

It can actually be mentioned that Starbucks coffee can have greater price elasticity of demand and this is because of the fact that black coffee is usually a necessity good for certain group of people but Starbucks coffee is a luxury good where they would only prefer if it is of low price where is the price increases even by update then there would be a huge decrease in the quantity demanded and vice versa.

.

Similar Solved Questions

1 answer
Gumball Candies manufactures jaw-breaker candies in a fully automated process. The machine that produces candies was...
Gumball Candies manufactures jaw-breaker candies in a fully automated process. The machine that produces candies was purchased recently and can make 4,600 per month. The machine costs $5,500 and is depreciated using straight line depreciation over 10 years assuming zero residual value. Rent for the ...
2 answers
General physics about resistor..help me please!! :(
What diameter must a copper wire have if itsresistance is to be the same as that of an equal length of aluminumwire with diameter 3.26mm?it looked like simple,,but its Hard..!! thank you...
1 answer
Fes Company is making adjusting journal entries for the year ended December 31, 2018. In developing...
Fes Company is making adjusting journal entries for the year ended December 31, 2018. In developing information for the adjusting journal entries, you learned the following: a. A two-year insurance premium of $7,000 was paid on January 1, 2018, for coverage beginning on that date. As of December 31,...
1 answer
Which of the following samples of gas would have a new volume of 4.00 liters if...
Which of the following samples of gas would have a new volume of 4.00 liters if the pressure is decreased from 8.00 atm to 2.00 atm at constant temperature? Group of answer choices 8.00 L H2 4.00 L CO2 2.00 L He 1.00 L N2...
1 answer
(Chapter 2-Part 2 Problem 2.74 K11 of 11 Constants Periodic Table Pelicans tuck their wings and...
(Chapter 2-Part 2 Problem 2.74 K11 of 11 Constants Periodic Table Pelicans tuck their wings and free-fall straight down dive from a height of 17.0 m and cannot change its ▼ Part A escape? Assume the fish is at the surface of the water Express your answer using two significant figures. K Return...
1 answer
The 9-month Libor rate is 4%. The 12-month Libor rate is 5%. An investor creating a...
The 9-month Libor rate is 4%. The 12-month Libor rate is 5%. An investor creating a homemade forward forward could earn what annualized interest rate on a 3-month $1,000,000 deposit made in 9 months? I'm pretty confident it is: 1,000,000 / 1 + .04 (3/4) = $970,874 $970,874 x (1 + .05 (4/4)) = $1...
1 answer
What volume of concentrated hydrochloric acid (12.0 M #HCl#) is require to make 2.0 liters of a 3.0 M #HCl# solution?
What volume of concentrated hydrochloric acid (12.0 M #HCl#) is require to make 2.0 liters of a 3.0 M #HCl# solution?...
1 answer
A clinical trial was conducted to test the effectiveness of a drug for treating insomnia in...
A clinical trial was conducted to test the effectiveness of a drug for treating insomnia in older subjects. Before treatment, 21 subjects had a mean wake time of 1000 min After treatment, the 21 subjects had a mean wake time of 77.2 min and a standard deviation of 23.4 min. Assume that the 21 sample...
1 answer
Is economic growth in the developing world related to growth in the industrialized? countries? The output...
Is economic growth in the developing world related to growth in the industrialized? countries? The output of a regression analysis that related growth? (in % of Gross Domestic? Product) of the developing countries to the growth of developed countries from 1970 to 2007 is given below. Complete parts ...
1 answer
(8 points) Suppose a monopolist is the only firm that supplies water for the city of...
(8 points) Suppose a monopolist is the only firm that supplies water for the city of Atlanta The firm faces a market demand curve given by Q- 33-P, where P is the price of water and Q is the market demand for water per day. (1 pt) Derive the monopolist's marginal revenue curve. (2 pts) Suppose t...
1 answer
P’s employer provided her with the following gifts and awards: Wedding gift (cutlery) - $300; Holiday...
P’s employer provided her with the following gifts and awards: Wedding gift (cutlery) - $300; Holiday season gift (art) - $200; Excellence award (gift certificate) - $400; First long service award for 10 years of service (golf clubs) - $1,500. What amount is included in P’s employment in...
1 answer
3. Consider the following SPD linear system Ar = b with -[11] -- [3] Solve the...
3. Consider the following SPD linear system Ar = b with -[11] -- [3] Solve the system by using the Conjugate-Gradient (CG) method by hands....
1 answer
Solve the following. 0.9x + 5.1y = 6.4 5.4x + 2.4y = 1.9
Solve the following. 0.9x + 5.1y = 6.4 5.4x + 2.4y = 1.9...
1 answer
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.80 pounds 0.30 hours Standard Price or Rate $2.50 per pound $6.00 per hour Standard Cost $19.50 $ 1.80 Direct materi...
1 answer
The answer I gave was wrong Which of the following is found in the mature mRNA...
the answer I gave was wrong Which of the following is found in the mature mRNA but not in the immature mRNA? introns exons 5 cap promoter...
3 answers
Every fraction has a decimal equivalent that either terminates (for example,1/4=0.25 ) or repeats (for example,2/9=0.2 )
Every fraction has a decimal equivalent that either terminates (for example,1/4=0.25 ) or repeats (for example,2/9=0.2 ). Work with a group to discover which fractions have terminating decimals and which have repeating decimals. You may assume that the numerator of each fraction you consider is and ...
1 answer
QUESTION 5 Ethics requires skillful reasoning. Which of the following is not an element of good...
QUESTION 5 Ethics requires skillful reasoning. Which of the following is not an element of good reasoning? a. The structure of the argument. O b. The conclusion follows from the premises. C. The argument which commits a straw man fallacy d. The argument has internal logic....