(Answered) The big bad wolf loves eating little pigs for breakfast

Management Studies

The big bad wolf loves eating little pigs for breakfast, lunch, dinner, supper, midnight snacks and he does know all about second breakfast. He tends to consume a lot of little pigs in a week. (He is probably not Jewish) when a little pig cost $11.28 per big, he devours 23 piggies per week. If little pigs are on special, at $7.90 per pig, he devours 32 pifies per week

a) Calculate the price elasticity if demand involved here (correct to 2 decimal places)

b) Is the price elasticity of demand elastic or in elastic?

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Business Management, Management Studies

Category:- Business Management
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