GreenTree Corporation Sells Live Christmas Trees

question 170

Multiple Choice

GreenTree Corporation sells live Christmas trees. It observes that when it increases the price of Christmas trees by 10 percent, revenue rises by 25 percent. The demand for Christmas trees is:

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly elastic.

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Definitions:

Personnel Psychologist

A professional who applies psychological principles and methods to the workplace to solve problems related to human behavior and performance.

Structured Interviews

A method of interviewing where each respondent is asked a set of predetermined questions, ensuring consistency across interviews.

360-Degree Feedback

A performance appraisal method involving feedback from all directions, including self-assessment, peer review, and supervisor assessment.

Transformational Leadership

A leadership style that inspires followers to exceed their own self-interests for the good of the organization by transforming their attitudes, beliefs, and values.