Suppose That When the Price of Hot Dogs Is $2

question 61

Multiple Choice

Suppose that when the price of hot dogs is $2 per package,there is a demand for 10,000 bags of hot dog buns.When the price of hot dogs is $3 per package,the demand for hot dog buns falls to 8,000 bags.What is the cross-price elasticity of demand for hot dogs and hot dog buns?

• A) 0.25
• B) -0.25
• C) -0.4
• D) 2000

Identify when and how a buyer can reject goods under the Uniform Commercial Code (UCC).

Recognize the rights and remedies available to buyers and sellers under the UCC in transactions involving goods.

Distinguish between express and implied warranties, and understand their implications in sales contracts.

Comprehend the legal principles governing the shipment and delivery of goods, including the responsibilities of carriers.