(1)The price elasticity of demand for chicken is about 0.50. Other things equal, this means that a 30%increase in the price of chicken will cause the quantity demanded to?

(2)Sunrise chicken recorded a 10% increase in total revenue when the price of their eggs increased by 10%. What is the elasticity?

(3)The local Spaza shop sells 100 units of Special K cereal daily at a unit price of R10 and 75 units are sold, at unit price of R12, one can conclude that in this price range

(4)A product prices at R10 has annual sales of 200 units. When price is reduced to R8 the quantity increases to 250 units. Other things unchanged the price elasticity of demand for a product is

(5) timberland sells a very upmarket shoe and decided to put it on sale. If the price of the shoe falls from R2500 to R1500 and their sales increases by 60% it can be concluded that?

(6) crude oil has a price elasticity coefficient of 3 if the price had to rise by 10% production can be expected to?

(7) suppose that a business incurred implicit costs of R400 000 and explicit costs of a million rand in a specific year. If the firm sold 4000 units of its output at R300 per unit, its accouting profit is?

(8) Suppose that a business incurred implicit costs of R500 000 and explicit costs of R5million in a specific year. If the firm sold 100 000 units of its output at R55 per unit, its accounting profits is?