There are plenty of options to choose from when buying running shoes. Some of the most popular brands are Nipe and Adipas. Answer the following questions: Mark and Jack are looking for a new pair of running shoes. Mark is working full time at the Reserve Bank of Australia and earns a higher income every month. Jack is still a student in high school and only receive a small amount of allowance per week. Jack's price elasticity for Nipe is elastic as compared to Mark. Type L for Less, M for More or E for Equally. Assume now Nipe is trying to find out the price elasticity of their customers by changing the prices of their running shoes. When a pair of shoes is sold for $345, it is observed that Nipe can sell 5525 pairs of shoes within a day. When the price increases to $450, Nipe will only be able to sell 3250 pairs of shoes within a day. What is the price elasticity of demand using the mid-point formula? (give an absolute value i.e. a postive value) . Answer to the nearest 2 decimal places. Considering your answer in part b, should Nipe increase the price for a pair of shoes to increase revenue? . Type Y for Yes, N for No, or U for Unknown.

Mark and Jack are looking for a new pair of running shoes. Mark is working full time at the Reserve Bank of Australia and earns a higher income every month. Jack is still a student in high school and only receive a small amount of allowance per week. Jack's price elasticity for Nipe is M elastic as compared to Mark. Type L for Less, M for More or E for Equally. Assume now Nipe is trying to find out the price elasticity of their customers by changing the prices of their running shoes. When a pair of shoes is sold for $345, it is observed that Nipe can sell 5525 pairs of shoes within a day. When the price increases to $450, Nipe will only be able to sell 3250 pairs of shoes within a day. What is the price elasticity of demand using the mid-point formula? (give an absolute value i.e. a postive value) . Answer to the nearest 2 decimal places.

Suppose you want to buy a pair of running shoes. While looking around for an outlet in a market, you come across a local shop selling shoes. How much will you be willing to pay for a pair?

The price elasticity of demand for a product with high brand loyalty will be;Group of answer choicesPerfectly elasticInelasticinfinite elasticElastic

57A running shoe manufacturer produces three types of shoes: traditional, minimalist, and spikes.The company uses the following information to determine activity rates for each pool:Cost Pool Costs Total ActivityShoe Production $250,00020,000 pairs of shoesShoe batches $10,000500 batchesShoe design $5,000100 partsTotal $265,000Data concerning the three shoe products appear below:Cost Driver Traditional Minimalist SpikesNumber of pairs of shoes 10,0007,5002,500Number of batches 150250100Number of parts 203050What is the total amount of overhead applied to spikes shoes? $100,250 $35,750 $31,250 $265,000

Brand X designs and builds custom sports shoes, one shoe at a time. It recently announced plans to sell "Trailblazer," a sports shoe that will cost five times more to manufacture than any other sports shoe that has ever been created. Which of the following, if true, most supports the prediction that “Trailblazer” shoe line will be profitable?Choices:- Because of its reputation as an original and exclusive sports shoe, the “Trailblazer” will be favoured by fashion-conscious urban youth willing to pay exceptionally high prices in order to standout Of the last four new sports shoes that Brand X has released, three have sold at a rate that was higher than projected. A rival brand recently declared bankruptcy and ceased manufacturing shoes. The market for “Trailblazer” will not be more limited than the market for other Brand X shoes