Suppose the price for sneakers increases by 40%, demand decreases by 10%. For sneakers, the price elasticity of demand is:"     elastic     inelastic     neither elastic nor inelastic     both elastic and inelastic     this cannot be determined from the information provided

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A: Find the given details below:

Q: Please answer all 3 questions, I will upvote!

A: Approach to solving the question:  Detailed explanation:

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A:

Q: g the average income of a monopoly.

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.