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- How would you characterize the demand for the following products and why?• Steak• Milk• Life Saving Drug or Illegal, Addictive Drugs• Durable GoodsHow to Estimate demand, costs, and profits?Only typed answer and don't use chat gpt As a result of the decrease in donut prices at Yum Yum Donuts, Krispy Kreme discovers that A. Demand for their donuts has increase from D0 to D1. B. Demand for their donuts has increased from D1 to D0. C. Demand for their donuts has decrease from D1 to D0. D. Demand for their donuts has not changed.
- Small businesses typically do not observe the demand curves for the products they sell. For example, a local bakery could not draw the demand curve for its loaves of sourdough bread. Without this important information, how would the local bakery maximize its revenue?at the optimal output , what price will do drop in chrge and what will be its output?Price $ Output in units Also at the optimal price and output , what will be its total revenue, total cost and total lost .Please calculate the points on the graph. Please provide solutionDraw a supply and demand curve for local fast food. A new Chick-fil-A, Chipotle, and McDonald’s open up, what happens to the supply or demand of fast food? Why?
- READ THEN ANSWER THE QUESTION : THE QUESTION : What is the shape of Starbucks’ demand curve? In January 2020, Starbucks raised their beverage prices by an average of1% across the U.S, a move that represented the company’s firstsignificant price increase in 18 months. I failed to notice because the pricechange didn’t affect grande or venti (medium and large) brewed coffeesand I don’t mess with smaller sizes, but anyone who purchases tall size(small) brews saw as much as a 10 cent increase. The company’s thirdquarter revenue rose 25% to $417.8 million from $333.1 million a yearearlier, and green coffee prices have plummeted, so what gives?Starbucks claims the price increase is due to rising labor and non-coffeecommodity costs, but with the significantly lower coffee costs alreadyimproving their profit margins, it seems unlikely this justification is the truereason for the hike in prices. In addition, the price hike was applied to lessthan a third of their beverages and only targets…What happens to the price and quantity of hamburgers, when a new burger restaurant opens up in town?Only typed answer Why does Werther’s Original candy tend to have an elastic demand? options: because Werther’s Original candy is considered by some to be a necessity because it is usually eaten quickly and therefore the time horizon is short because the candy market is too broadly defined because there are many close substitutes for Werther’s