In Choosing a Communication Medium for Any Message, Managers Need

question 6

Multiple Choice

In choosing a communication medium for any message, managers need to consider three factors: information richness,

• A)time, and the need for confidentiality.
• B)cost, and the need for confidentiality.
• C)time, and the need for a paper trail.
• D)cost, and the need for a paper trail.

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Definitions:

Elastic Demand

A situation where the demand for a product or service significantly changes in response to a change in price, indicating consumers' sensitivity to price changes.

Inelastic Demand

A situation where the demand for a product or service remains relatively unchanged despite changes in its price.

Marginal Cost

The rise in aggregate expenditure resulting from the production of one more unit of a good or service.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded.