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Lauren1 Lauren1
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Posts: 4120
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9 years ago
"The Department of Agriculture came out today with its prediction for food price next year—4 to 5 percent increases on top of this year's already steep gains… Eggs, dairy products and cereals are up 10 percent... But the USDA says another big part of the American diet has seen only moderate price increases. Beef, poultry and pork will be up only 3 percent this year." Calculate Jennika's price elasticity of demand for pork if she decreases her consumption by 4 percent.
A) 1.25
B) 1
C) 0.75
D) 0.66
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MrDerecheMrDereche
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#1
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9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
Anonymous
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#4
10 months ago
Help! The answer is missing an explanation...
Anonymous
wrote...
#5
10 months ago
Quote from: Anonymous (10 months ago)
Help! The answer is missing an explanation...

Answer updated with the solution!
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