Use product examples to illustrate elastic and inelastic demand.
What will be an ideal response?
Elasticity of demand is the degree to which a change in price affects the quantity demanded. Elastic demand happens when an increase in price lowers demand or a decrease in price raises demand. Luxury cars, jewelry, or products with the latest technology are examples. Inelastic demand is if an increase in price raises revenue or a decrease in price lowers revenue. Necessities such as toilet paper, sugar or toothpaste typically have inelastic demand.
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A component of the ABC model of attitude is ________
A) behavior B) cognition C) affect D) all of the above
Instrumentality refers to
A. wage rates of acceptable level. B. development of both internal and external pay equity. C. wage rates above the pay range maximum. D. rewards that are valued and motivate employees.
What is 0.44 as a percent?
Suppose that a stock sells at a price of $60 on the expiration date. Compute the payoff to the seller of a put option if the option strike price is $80
A) -$20 B) -$10 C) 0 D) $40