Question
Dixie Chicken sells an average of 2105 Freddie Burger platters per month over the past 6 months at an average of $9.13 each . The
Dixie Chickensells an average of 2105Freddie Burger plattersper month over the past 6 months at an average of $9.13 each. Theprice elasticityof Demandfor this platteris estimated to be -1.3.
If Dixie Chickenincreasesthe priceof the platterby 10%how many Freddie Burger platters will Dixie Chicken sell?
** HINT - use the basic formula: Elasticity = (Unknown Q / Change in Price) x (Average Price / Average Quantity sold)
** enter your answer forHOW many Burger platters will be soldFOLLOWEDbywhether the elasticity value isinelastic or elastic.
e.g.1274elastic
or
e.g.2814inelastic
Answer:
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Dixie Chickensells an average of 1979Freddie Burger plattersper month over the past 6 months at an average of $8.98 each. Theprice elasticityof Demandfor this platteris estimated to be -0.61.
If Dixie Chickendecreasesthe priceof the platterby 20%how many Freddie Burger platters will Dixie Chicken sell?
** HINT - use the basic formula: Elasticity = (Unknown Q / Change in Price) x (Average Price / Average Quantity sold)
** enter your answer forHOW many Burger platters will be soldFOLLOWED bywhether the elasticity value isinelastic or elastic.
e.g.1274elastic
or
e.g.2814inelastic
Answer:
Question60
Not yet answered
Points out of 4.00
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Question text
Dixie Chickensells an average of 2106Freddie Burger plattersper month over the past 6 months at an average of $8.78 each. Theprice elasticityof Demandfor this platteris estimated to be -1.57.
If Dixie Chickendecreasesthe priceof the platterby 20% calculatehow many Freddie Burger platters will Dixie Chicken selland THEN compute theTotal Revenuefor the sales of Burger platters?
** HINT - use the basic formula: Elasticity = (Unknown Q / Change in Price) x (Average Price / Average Quantity sold)
**enter your answer for THE TOTAL REVENUEFOR THE Burger platters that will be soldFOLLOWED bywhether the revenue isHIGHER or LOWER.
e.g.15680HIGHER
or
e.g.18620LOWER
NO $ signs, NO quotes NO comma's .... JUST the number (18620) followed by the word: HIGHER or LOWER
Answer:
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