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What strategies distinguish the different types of food
retailers?
Retailers refer to the individuals, or business units that sells goods to the public in small amounts. The retailers have direct contact with the customers, and act as a link between the manufacturers, or producers, and the final consumers. The retailers are a part of supply chain, where they have contact with the consumers.
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- What is the standard price using the elasticity equation?DINKs are households with "double income, no kids", and such households are invading your neighbourhood. You decide to take advantage of this influx by starting a gourmet take-away food store. Assume that these DINKs in your neighbourhood are your only potential customers.You know that the price elasticity of demand for your food from DINKs is 0.5, and their income elasticity of demand is 1.5.From the standpoint of the quantity that you sell, explain which of the following changes would concern you most.First, the number of DINKs in your neighbourhood falls by 10 percent.Second, the average income of DINKs falls by 5 percent.Is there something unique or distinctive about the product or service that separates it from substitutes and competitors?
- if there is a decrease incomes of consumers,demand for head&shoulder shampoos will increase. True or False?What is the consumer and producer surplus when the price of penicillin remain the same when both supply and demand curve shift to the right?Your Best Brand Bike Shorts - BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, "the taste for bicycling has changed. The price elasticity of demand is much more inelastic. The price elasticity of demand has decreased from -5.76 to -2.70." Before the campaign, your price was $240 per pair of BBB Shorts. What should the new price be? Please enter the new price here: $ [a] Show only your answer in the box. Do not include steps in the calculation and do not include the dollar sign.
- Your Best Brand Bike Shorts - BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, "the taste for bicycling has changed. The price elasticity of demand is much more inelastic. The price elasticity of demand has decreased from -5.76 to -2.70." Before the campaign, your price was $240 per pair of BBB Shorts. What should the new price be? Please enter the new price here: $ [a] Show only your answer in the box. Do not include steps in the box and do not add the dollar sign.Your Best Brand Bike Shorts-BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, "the taste for bicycling has changed. The price elasticity of demand is much more inelastic. The price elasticity of demand has decreased from -5.76 to -2.70." Before the campaign, your price was $240 per pair of BBB Shorts. What should the new price be? Please enter the new price here: $Your Best Brand Bike Shorts-BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, "the taste for bicycling has changed. The price elasticity of demand is much more inelastic. The price elasticity of demand has decreased from -5.76 to -2.70." Before the campaign, your price was $240 per pair of BBB Shorts. What should the new price be?
