-Steve Sells Hotdogs from a Vending Cart Downtown

question 101

Essay

-Steve sells hotdogs from a vending cart downtown.The table above shows his daily total revenues at four different prices.Between which two prices is the demand for hotdogs
a.elastic?
b.unit elastic?
c.inelastic?

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Definitions:

Maintenance-free

Describes products or systems designed to operate without the need for regular maintenance or upkeep.

Inactivated Shelf Life

The duration for which a product or substance remains effective or safe to use after its activation has been halted or not initiated.

Internal Rate of Return

The discount rate that makes the net present value of all cash flows from a particular project equal to zero.

Cash Flows

The sum of funds flowing in and out of a company, impacting its ability to cover short-term obligations.