Which of the following hotel customers has the most inelastic demand slope?
a. Business travelers in high season.
b. Business travelers in low season.
c. Tourists in high season.
d. Tourists in low season.
e. All groups have equivalent demand curves.
a
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A total quality system should place an emphasis on inspection
Indicate whether the statement is true or false
Mitchell Company sells its product for $100 per unit. The company's accountant provided the following cost information: Manufacturing costs$25,000+45%of salesSelling costs$15,000+20%of salesAdministrative costs$25,000+10%of sales What is the company's break-even point in units?
A. 4,000 B. 1,000 C. 750 D. 2,600
Sinking Fund Investments would be classified on the balance sheet as
A) a current asset B) a fixed asset C) an investment D) a deferred debit
Answer the following statements true (T) or false (F)
According to the mainstream economics school of thought, unions are able to manipulate and control the supply of labor to a market just like monopolies control the supply of products to a market. According to the mainstream economics school of thought, the role of the government is to protect individual worker rights through legislation such as minimum wage laws, safety and health laws, and income protection benefits (e.g., unemployment compensation). According to the human resources school, unequal bargaining power is the primary cause of the labor problem. Proponents of the human resource management school would argue that scientific management and mass production were representative of poor management practices that contributed to the labor problem. The solution to the labor problem, according to the human resource management school, is to align worker interests with those of the employer.