Use the Table Below to Answer the Following Questions

question 72

Multiple Choice

Use the table below to answer the following questions.
Table 4.1.1
Demand schedule for good A.

-Refer to Table 4.1.1. If the price of good A falls from $4 to $3,

• A)total revenue will increase.
• B)total revenue will remain constant.
• C)demand is elastic in this range.
• D)demand is unit elastic in this range.
• E)demand is inelastic in this range.

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Definitions:

Environmental Factors

Various external elements, including economic, social, political, and ecological influences, that can affect an organization’s operation.

HRM

Human Resource Management, the strategic approach to the effective management of people in an organization, focusing on policies and systems.

Environmental Scanners

Individuals or tools that continuously monitor an organization’s external and internal environment to detect early signs of opportunities and threats that may influence strategic planning.

Critical Events

Significant occurrences that have a profound impact on an organization, requiring immediate attention and action.