If a 20 Percent Increase in the Price of a Used

question 328

Multiple Choice

If a 20 percent increase in the price of a used car results in a 10 percent decrease in the quantity of used cars demanded, then the price elasticity of demand equals

• A) 0.5.
• B) 1.0.
• C) 2.0.
• D) 10.0.

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Definitions:

Employee Relations

The management of interactions between the organization and its employees, aiming to maintain positive working relationships.

Succession Management

Identifying and grooming new leaders to succeed the current ones when they exit, retire, or are deceased.

Outsourcing

The business strategy of hiring external organizations to handle specific business tasks or operations that were previously conducted internally.

HR Surveys

Tools used by human resources departments to gather feedback from employees about job satisfaction, engagement, and organizational policies.