A Miami Restaurant Has Created Atmosphere Through Its Subtle Use

question 35

Multiple Choice

A Miami restaurant has created atmosphere through its subtle use of blue and green lighting, ceiling fans over each table, and frozen drinks. If its electrical energy supplier raises its prices, the restaurant will most likely ________.

• A) raise the prices of all menu items because it has an elastic demand for electricity
• B) ask other Miami restaurants to create a derived demand for cheaper electricity
• C) decide to find other ways to use electricity
• D) continue its present operation because it has an inelastic demand for electricity
• E) remove its lighting, turn off its fans, and economize on its use of electricity

Recognize visual media biases and how they perpetuate sexism.

Identify various forms of discrimination and understand their implications.

Grasp the significance of unconscious bias and stereotypes in shaping attitudes and behaviors towards racial groups.

Recognize the changing dynamics of derogatory language use and attitudes towards racial minorities over time.

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Definitions:

Fixed Supply

A condition where the quantity of a particular good, service, or resource does not change, regardless of the price.

MRP

Marginal Revenue Product, which refers to the additional revenue generated from employing one more unit of a resource.

Perfectly Elastic

A situation in which the demand or supply for a good or service is infinitely responsive to changes in price.

Pure Rent

Pure Rent refers to the income earned from the use of land or other natural resources when supply is perfectly inelastic.