Sara Does Not Like to Wait for Long Before Being

question 66

Multiple Choice

Sara does not like to wait for long before being served at a restaurant.Hence, the dimension of service that will influence Sara when she rates the quality of service at the restaurant will be:

• A)assurance.
• B)reliability.
• C)tangibility.
• D)responsiveness.
• E)empathy.

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Definitions:

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers, resulting in labor market equilibrium.

Labor

Human mental and physical contributions employed in the manufacturing of goods and services.

Marginal Product

The extra production obtained when one additional unit of a specific input is used, while all other inputs stay unchanged.

Labor Supply Curve

A graphical representation showing the relationship between the quantity of labor supplied and the wage rate in a given market.