Compute the own price elasticity of demand. In regression analysis, you must use the point elasticity of demand, not the average price elasticity of demand as you have done on the exam. You should have learned of this when you took Business Calculus such as ∆Y/∆X. When computing the own price elasticity of demand, use the average price, the average tuition, and the average soft drinks price.

Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?