Business, 14.10.2019 21:10 Geo777

The reason the elasticity changes along the demand curve is because a) percentage changes between larger numbers are smaller than percentage changes between smaller numbers. b) percentage changes between smaller numbers are smaller than percentage changes between large numbers. c) elasticity doesn't change along the demand curve.

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Answer from: wolfygamer14

A. percentage changes between larger numbers and smaller than percentage changes between smaller numbers

Explanation:

Answer from: Alex9089435028

a) percentage changes between larger numbers are smalle

than

percentage changes between smaller numbers

Explanation:

"The price elasticity of demand (PED) captures how price-sensitive consumers are for a given product or service by measuring the responsiveness of quantity demanded to changes in the good’s own price."

"The formula usually yields a negative value because of the inverse relationship between price and quantity demanded. However, economists often disregard the negative sign and report the elasticity as an absolute value."

"When PED is greater than one, demand is elastic. This can be interpreted as consumers being very sensitive to changes in price: a 1% increase in price will lead to a drop in quantity demanded of more than 1%.

When PED is less than one, demand is inelastic. This can be interpreted as consumers being insensitive to changes in price: a 1% increase in price will lead to a drop in quantity demanded of less than 1%."

Reference: Boundless Economics. “Price Elasticity on Demand.” Lumen, 2019

Answer from: Quest

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Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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