Question

34)Eagle beer has a higher price elasticity of demand than beer in general because:
Select one:
a. surveys have shown that Eagle has stood the test of time
b. Eagle has more substitutes than beer in general
c. Eagle has many complements in consumption
d. surveys have shown that Eagle is the single most popular beer​

Answer 1

Answer:

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Explanation:

b

Answer 2

Option d is the correct answer.

Eagle beer has a higher price elasticity of demand than beer in general because surveys have shown that Eagle is the single most popular beer.

• Origin of eagle beer: The eagle has been originated from the town of Bedford.
• It has been associated with this town for centuries, but one will notice there's a change in the way the Eagle Brewery makes a representation of its bird.

• It looks to the left in the logo which make us to believe that this represents the company's unique and creative point of view.
• The demand for this brewery is an example of highly price Elastic Demand.
• Perfectly elastic demand is supposed to happen when a slight change in price leads to an infinite change in quantity demanded of the same commodity.
• A small increase in price on the portion of the seller diminishes the demand to a greater extent.

This makes the demand for the Eagle beer highly price elastic because of its popularity among its consumers.

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