You are the manager of a local grocery store and have conducted an informal survey of the sales of four items. You are interested in how many of each item you will sell at regular prices and how many you will sell if the items are discounted. The four items are snickers candy bars, artichokes, lemons, and dish soap. You kept track of the number sold in a normal week and then recorded the number sold during the week of the sale. WEEK 1

Prices in Week 1 were as follows: Lemons $.35 each Snickers $.60 each Artichokes $.59 each Dish soap $.69 each

Quantities sold in Week 1 were as follows: Lemons - 10 crates Snickers - 6 cases Artichokes - 3 lugs Dish soap - 85 bottles

WEEK 2 During the sales discount week, you recorded the following changes in price and correlating demand.

Sales Prices in Week 2 were as follows: Lemons $.20 each Snickers $.49 each Artichokes $.49 each Dish soap $.59 each

Quantities sold in Week 2 were as follows: Lemons - 12 crates Snickers - 12 cases Artichokes - 5 lugs Dish soap 110 bottles

Flag question: Question 1Question 12 pts

What is the Price Elasticity of Demand for Lemons?

(Please round your solution to the nearest hundredth)

Flag question: Question 2Question 21 pts

In the example listed above, Lemons would be identified as what type of good?

(Hint: Refer to the Price Elasticity of Demand Coefficient Table in the PowerPoint)

Group of answer choices

Elastic

Inelastic

Unitary

Flag question: Question 3Question 32 pts

What is the Price Elasticity of Demand for Snickers?

(Please round your solution to the nearest hundredth)

Flag question: Question 4Question 41 pts

In the example listed above, Snickers would be identified as what type of good?

(Hint: Refer to the Price Elasticity of Demand Coefficient Table in the PowerPoint)

Group of answer choices

Elastic

Inelastic

Unitary

Flag question: Question 5Question 52 pts

What is the Price Elasticity of Demand for Artichokes?

(Please round your solution to the nearest hundredth)

Flag question: Question 6Question 61 pts

In the example listed above, Artichokes would be identified as what type of good?

(Hint: Refer to the Price Elasticity of Demand Coefficient Table in the PowerPoint)

Group of answer choices

Elastic

Inelastic

Unitary

Flag question: Question 7Question 72 pts

What is the Price Elasticity of Demand for Dish Soap?

(Please round your solution to the nearest hundredth)

Flag question: Question 8Question 81 pts

In the example listed above, Dish Soap would be identified as what type of good?

(Hint: Refer to the Price Elasticity of Demand Coefficient Table in the PowerPoint)

Group of answer choices

Elastic

Inelastic

Unitary