Specialty CakesImagine you're planning an after-symphony fund-raising party, and you need a life-size grand piano cake. Or, you are a developer proposing a new shopping center to a group of investors, and you want to serve a cake shaped like an architectural rendition of the center. Is this impossible? No, you just need to contact Cecilia Villaveces Cakes. She actually built a life-size grand piano for a gala in Macon, Georgia. You can expect to pay anywhere from $75 to $10,000 for one of Cecilia's artistic creations, depending on complexity of design and size. She uses only the best ingredients, and no two cakes are ever quite alike.Refer to Specialty Cakes. Many party planners in the Southeast will only use Cecilia Villaveces Cakes at their parties--no matter what the price is. They
know that Cecilia's cakes can make a party a success. Moreover, the cakes are what people remember most about the parties. From this description, you should assume Cecilia Villaveces Cakes have a(n):
A. elastic demand
B. unitary elasticity
C. inelastic supply
D. inelastic demand
E. elastic supply
Answer: D
You might also like to view...
An alternate term for a timing difference is a______________
Fill in the blank(s) with correct word
The benefits sacrificed when one alternative is chosen over another are referred to as:
A. Sacrificial costs. B. Beneficial costs. C. Avoidable costs. D. Opportunity costs.
The mission statement of the Financial Accounting Standards Board includes a goal of promoting international comparability of accounting standards. Furthermore, the International Accounting Standards Board has begun over the last 20 years to issue
international accounting standards designed to create a common set of international accounting and reporting standards. Identify reasons why such a set of international accounting standards would be desirable.
Bonds may be purchased directly from the issuing corporation or through one of the bond exchanges
Indicate whether the statement is true or false