You own a gas station and are thinking about raising prices because your cost of the gasoline has increased. You are worried that if you raise the price, the quantity of gasoline purchased by your customers will decrease, thereby lowering your total revenues. Analyze this situation.
What will be an ideal response?
Price elasticity of demand measures the change in quantity demanded based on a change in price. Gasoline is a necessity for people who own vehicles, and there are no substitutes for cars with an internal combustion engine that runs on gas. As such, the gasoline has inelastic demand, where a price change will lead to a small change in quantity demanded, and total revenue will increase.
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Working in today's world of paid, earned, and owned media, which form of publicity typically remains the most valuable?
A) online newswires B) blogger relations C) third-party endorsements D) special events
The only difference between the direct and the indirect methods is the:
a. presentation of the cash flows from investing activities. b. presentation of the cash flows from financing activities. c. presentation of the cash flows from operating activities. d. presentation of the cash flows from noncash activities.
A disadvantage of hiring local managers is that they are often ______ with the home country of the IC and with its corporate culture, policies, and practices.
Fill in the blank(s) with the appropriate word(s).
___________ is the area where two sides in a negotiation may find common ground.
a. CAT b. BATNA c. Zippity Do Dah d. ZOPA