TABLE 13-2 A Candy Bar Manufacturer Is Interested in Trying to Estimate

question 164

Multiple Choice

TABLE 13-2
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:

-Referring to Table 13-2, what is the estimated average change in the sales of the candy bar if price goes up by $1.00?

• A) 161.386
• B) 0.784
• C) -3.810
• D) -48.193

Distinguish between different types of discrimination (e.g., employer, customer, statistical).

Understand the mechanisms through which competitive markets can reduce or perpetuate discrimination.

Understand the relationship between value of marginal product of labor, wage, and firm's hiring decision.

Calculate and interpret the value of the marginal product of labor.

---

Definitions:

Collective Representation

A process by which a group acts together to promote its members' interests, often in negotiations with employers.

Management Efforts

The actions or initiatives undertaken by management to achieve organizational objectives, improve performance, or solve problems.

Stakeholder Theory

A theory of organizational management and business ethics that addresses morals and values in managing an organization, emphasizing the importance of all stakeholders.

NLRA

The National Labor Relations Act of 1935, a foundational statute in United States labor law which protects the rights of employees to organize, bargain collectively, and engage in other union activities.