Problem 1 at 25 cents apiece mrs brown sells 100 candies, Ask an Expert

Economics

Problem 1: At 25 cents apiece, Mrs. Brown sells 100 candies per week. If she drops his price by 20 cents, her weekly sales will increase to 110 candies per week. Is the demand for candies elastic or inelastic? Prove your answer using two different approaches show all your work.

Problem 2: Provide three everyday examples to illustrate what we mean by choosing at the margin. What roles do you believe marginal analysis has in the use of economics as a policy tool?

Problem 3: List all the influences on buying plans that change demand, and for each influence, say whether it increases or decreases demand.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91368228

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