5. Describe a product you know of that has elastic demand. Why is the demand for this product elastic? Explain. (1-3 sentences. 3.0 points)

Bcorporation, a merchandising company, reported the following results for october: sales $ 490,000 cost of goods sold (all variable) $ 169,700 total variable selling expense $ 24,200 total fixed selling expense $ 21,700 total variable administrative expense $ 13,200 total fixed administrative expense $ 33,600 the contribution margin for october is: