As the Manager of a Ski Resort, You Want to Increase

question 1

Multiple Choice

As the manager of a ski resort, you want to increase the number of lift tickets sold by 8 percent. Your staff economist has determined that the price elasticity of demand for lift tickets is 2. To increase sales by the desired amount, you should decrease the price of a lift ticket by:

• A) 2 percent.
• B) 4 percent.
• C) 8 percent.
• D) 16 percent.

Appreciate the various approaches to management including systems theory, the behavioral approach, and the contingency approach.

Comprehend the perspectives on organizations as systems and the importance of adaptability and learning.

Recognize the importance of rigor and science in management practices over quick-fix solutions and best-seller management trends.

Understand the core values and key success factors of companies like the Zildjian Company.

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Definitions:

Wernicke's Area

A region in the brain's temporal lobe involved in understanding spoken language.

Temporal Lobe

One of the four major lobes of the cerebral cortex, responsible for processing auditory information and encoding memory.

Listen

The act of actively paying attention and making a conscious effort to hear and process what is being said.

Split-Brain Patient

An individual who has undergone a surgical procedure called corpus callosotomy, separating the two hemispheres of the brain, often done to treat severe epilepsy, affecting communication between the hemispheres.