A. Gus buys cupcakes every Saturday morning. When he walks into the bakery, he always orders by saying, "Give me $10 worth of cupcakes." What does this tell you about Gus's elasticity of demand for cupcakes?

B. Use the graph believe to illustrate Gus’ demand for cupcakes. This line should only contain the two endpoints (X axis is quantity of cupcakes 0-25 going by 5s, Y axis is Price of cupcakes 0-6 going up by 2)

Question

05-06-2022
Mathematics

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A. Gus buys cupcakes every Saturday morning. When he walks into the bakery, he always orders by saying, "Give me $10 worth of cupcakes." What does this tell you about Gus's elasticity of demand for cupcakes?

B. Use the graph believe to illustrate Gus’ demand for cupcakes. This line should only contain the two endpoints (X axis is quantity of cupcakes 0-25 going by 5s, Y axis is Price of cupcakes 0-6 going up by 2)

Sagot :

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Topeadeniran2idn Topeadeniran2idn · Answer 1 · 2022-06-07T13:32:52-04:00

The thing that can be deduced from Gus's elasticity of demand for cupcake is that the demand for cupcakes is perfectly elastic.

What is elasticity of demand?

It should be noted that elasticity of demand simply means the responsiveness to demand when there's a change in price.

Gus's elasticity of demand for cupcake is that the demand for cupcakes is perfectly elastic. This is when the percentage change in quantity demanded is infinite due to the price change.

Learn more about demand on:

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Sagot :

What is elasticity of demand?

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