Rain spoils the strawberry crop, the price of strawberries rises from $6 to $8 a box, and the quantity demanded decreases from 600 to 200 boxes a week. Calculate the price elasticity of demand over this price range. Describe the demand for strawberries. Over the price range of $6 to $8, the price elasticity of demand is >>> Answer to 2 decimal places. Over this price range, the demand for strawberries is A. inelastic OB. unit elastic C. elastic

Economics Over the past decade, holiday gift cards have become increasingly popular at online retailers. Not long ago, online shoppers had to really hunt at most e-retailer' sites to purchase a gift card, but today it is easier to purchase gift cards online than at traditional retail outlets. Provide a comprehensive initial post answering the following questions: Do you think online gift cards are merely a fad? Explain carefully.

qD = 100 – 0.5p,  qS = 2p – 20 Following a 25% price increase, should the sellers in this market expect an increase in revenue? Why or why not?

It's the year 2023 and you are the manager at a local brew pub here in Fayetteville. You are one of many local breweries in town; therefore, your customers have many options of where to spend their beer money. You want to increase revenue and decide to raise the price of a pint of your craft beer. The table below shows the sales of beer from week 1 and sales in week 2 after you raised price. Table 1. Sales Data for Weeks 1 and 2 Week Week 1 Week 2 Price ($ per pint) $6.00 $8.00 Sales (Pints) 2,500 1,100 Using the information in the above table, what was the change in total revenue from week 1 to week 2 when you changed your price? (enter your answer without a dollar sign and indicate a decrease in revenue, if applicable, by including a negative (-) sign)