Business, 28.06.2021 16:00, michellemonroe012305

When the price of Milk is $5 per gallon consumers demand 1,000 boxes of Boo Berry Cereal. When the price of milk increases to $5.50 per gallon consumers demand 700 boxes of Boo Berry Cereal. Required:
a. What is the percentage change in the price of milk?
b. What is the percentage change in the quantity demanded for Boo Berry Cereal?

Answers: 2

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When the price of Milk is $5 per gallon consumers demand 1,000 boxes of Boo Berry Cereal. When the p...