Which of the Following Would Tend to DECREASE the Elasticity

question 68

Multiple Choice

Which of the following would tend to DECREASE the elasticity of demand for good X?

• A)The cost of producing X decreases.
• B)Several firms which used to produce substitutes for X go out of business.
• C)Consumers begin spending a smaller percentage of their income on X.
• D)both b and c
• E)all of the above

Grasp the concept and implications of network structures in organizations.

Identify the components and benefits of a project team within an organization.

Recognize the defining features of a bureaucracy and its impact on organizational effectiveness.

Comprehend the principles and disadvantages of mechanistic organizational designs.

---

Definitions:

Unused Capacity

The portion of a business's potential production that is not being used; it represents the difference between what a company can produce and what it is currently producing.

Income Statement

A financial report that outlines a company's revenues and expenses over a specific period, showing the net profit or loss.

Job-Order Costing

An accounting method that assigns manufacturing costs to an individual product or batch of products, making it possible to track the specific costs associated with producing each.

Automated Router

A device or software that uses pre-set guidelines to direct data traffic automatically in a network.