Answer:
The correct answer is the option A: a small elasticity of demand.
Explanation:
To begin with, the concept known as<em> "price elasticity of demand"</em> refers to the relationship that shows how much the quantity demanded of a product will change when the price of it changes. And therefore that it indicates the variation that exists between the price and the quantity demanded for the product.
Secondly, when it comes to products that are highly essential to life, like water, the price elasticity of its demand will be inelastic or what is the same as small elastic due to the fact that it does not matter how much the price changes, the amount demanded by the consumers will stay due to the fact that the product is highly needed in their lives.
The answer for this question is: the ability to adapt quickly to change<span>
In market-based ecnomy, the government put little to restriction about the decision made by the companies. One positive aspect of this would be that the market could quickly identify what products needed by the market and produce it to fulfill the demand </span>
Answer:
Reject Accept Net Income
order order increase / (decrease)
Revenues $0 $114,250 $114,250
(4570*25)
Cost - variable manufacturing $0 $73,120 ($73,120)
(4570*16)
Shipping $0 $4,570 ($4,570)
(4570*1)
Net Income $0 $36,560 $36,560
So, the special order should be accepted.
Answer:
✔ Asking employees questions helps develop their critical thinking skills.
✘ Asking employees questions boosts their morale by helping them feel like experts, even though they’re not.
✘ Asking employees questions enhances their sense that the manager is the only person they should be in dialogue with, so they start talking less to each other.
✔ Asking employees how to solve problems empowers them to arrive at solutions to which they’re committed.
Explanation:
A manager who asks questions with a sincere interest in the answers is engaging in dialogue similar to a “regular” back-and-forth conversation, and this authenticity builds trust and promotes the open exchange of ideas. Another key benefit is that having employees think about questions, rather than just telling them information or telling them what to do, engages their critical thinking skills—which are key skills for organizational success. Also, when employees are asked how to solve problems, they are likely to have more buy-in to the solution they arrive at than to a solution imposed on them. Many people are motivated by feeling as though their ideas make a positive difference.
Lower-level employees are often the experts in operational details and often have more direct contact with customers than higher-level managers, so they have tremendous expertise that can and should be tapped. Asking employees questions begins an organizational dialogue that can lead to a decentralized communication network, in which employees freely exchange ideas with one another and not just with their manager.
