If a 2424 percent increase in the price of Cheerios causes a 2727 percent reduction in the number of boxes of cereal demanded, the price elasticity of demand for Cheerios is minus−nothing. (Enter your response rounded to two decimal places.) The demand for Cheerios is

a. inelastic unit −elastic
b. elastic .

Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods

Retirement investment advisors, inc., has just offered you an annual interest rate of 4.4 percent until you retire in 40 years. you believe that interest rates will increase over the next year and you would be offered 5 percent per year one year from today. if you plan to deposit $13,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit?

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)