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By how much will popcorn sales increase if average income goes up by 18 percent (Assume the income elasticity of popcorn is 3.29.)?
To calculate the increase in popcorn sales due to an 18 percent rise in average income, we can use the formula for income elasticity of demand: Percentage change in quantity demanded = Income elasticity × Percentage change in income. Given an income elasticity of 3.29, the increase in sales would be 3.29 × 18% = 59.22%. Thus, popcorn sales are expected to increase by approximately 59.22%.
What else can I help you with?
If people demand more of product A when the price of B falls then A and B are?
Compliments. Think movie tickets and popcorn. If movie tickets are less expensive, more people will attend movies, and the demand for popcorn will rise. Another relationship is substitute goods. If the price of oranges rises, the demand for apples will increase.
What are west virginias major imports and exports?
popcorn chips and ice cream
How has a country such as the US increased its productivity?
through regulations that limit innovation who wants popcorn
Why do farmers farm?
Because if they didn't farm, you wouldn't have very much to eat. They have cows, which give you milk and meat. They grow, corn which makes popcorn, and of course corn on the cob. And a lot others!!!
What products are included in SIC 0119?
include dry field and seed peas and beans, safflowers, sunflowers, and popcorn. The industry also includes farms growing barley, buckwheat, lentils, oats, sorghum, rye, mustard seeds, cowpea and flaxseed
What is the percentage of water in a popcorn kernel?
The average percent of water in popcorn kernels is around 13-14%.
What is the average time to heat popcorn?
push the button that says popcorn on the microave
What is the average price of the movie theater popcorn in 2015?
a small popcorn at Harkins Movie theater is $4.
How much does popcorn cost at birchwood theater?
The cost of popcorn at the Birchwood Theater can vary depending on whether or not there is a sale. The average price for a medium popcorn is between $6 and $8.
How much popcorn does an average person eat?
An average American eats 2 pounds of popcorn each year!!(Background on answer: several different states the same answer.)An average American eats 2 pounds of popcorn each year!!(Background on answer: several different states the same answer.)
What is the average price for a popcorn machine?
The average price for a popcorn machine can range from very low to very high. This depends on how big or small the machine is that you plan on purchasing. They can range from $100-$400.
Does freezing popcorn kernels increase popping effectiveness?
I have seen many questions on other sites asking about frozen popcorn. here's ... moisturise starts to vaporize which causes increased pressure in the kernel until .... Will frozen popcorn pop more kernels than room temperature popcorn when.
How much does popcorn coast?
Depends.....movie popcorn from on average is $7 for a large tub. You can get a box of 5-6 microwaveable packs for about $4.
Why is movie popcorn so popular?
Movie popcorn is popular for a variety of interesting reasons. While popcorn was not originally the snack-food of choice for movie-goers, its popularity grew due to its availability and affordability during the great depression. Mechanical harvesting grew the availability of popcorn and through the effort of popcorn breeders, several strains of popcorn were bred to increase its popping size and enhance its physical appearance.
Is it possible to pop popcorn with a ipod touch?
Not with a properly functioning iPod. Should the devices temperatures increase to the point where it can pop a popcorn kernel, there is a severe problem with the device, and it should be taken to an Apple store for repair. There are most likely popcorn popping apps, however, which simulate the popping of popcorn on your screen.
What is the average cost of a movie theater style popcorn machine?
Movie Theater Style popcorn machine's range in price from $99.99 to $499.99.
Would the density increase decrease or remain the same when popcorn pops in a skillet?
density decreases.
