When the Price of Pencils Decreases from $3 to $1,the

question 100

Multiple Choice

When the price of pencils decreases from $3 to $1,the quantity demanded increases from 100 to 200 pencils.By the midpoint method,the price elasticity of demand equals:

• A)0.17.
• B)0.5.
• C)0.67.
• D)1.5.

Understand the concept and significance of organizational control systems, including budgetary and bureaucratic controls.

Recognize the role of organizational culture in influencing behavior through clan control.

Identify the impact of market competition on organizational behavior and decisions.

Grasp the legal framework governing corporate behavior, with a focus on the Sarbanes-Oxley Act.

---

Definitions:

Returned Goods

Products that are sent back to the retailer or manufacturer by the consumer because of defects, dissatisfaction, or other reasons.

Sustainability Profile

A description of the environmental, social, and economic impacts of an organization or product.

Facility Locations

The process of determining the most optimal location for a company’s operations, manufacturing, or services.

Closed-Loop System

A system that uses feedback to control the state or output of the system. It is designed to automatically adjust, correct, or compensate for changes to maintain the desired output.