If a Product Is Said to Have a Price Inelastic

question 5

Multiple Choice

If a product is said to have a price inelastic demand curve, what does this mean?

• A) If you put the price up, sales will stay the same
• B) If you the price down, sales volume will fall
• C) If you change the price, sales volume will change very little
• D) To sell more products, you should raise the price
• E) To make more sales revenue, you should lower the price

Discuss the ethical considerations of pay strategies, including the risks associated with certain types of pay plans.

Describe how managers and employees perceive pay equity and the inaccuracies in their perceptions.

Explain the concept of restriction of productivity and the factors that contribute to its occurrence.

Examine company policies in pay transparency and its impacts on organizational culture.

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Definitions:

Purchase Accounting

An accounting method used in mergers and acquisitions to consolidate the financial statements of the buying and acquired companies.

Fair Market Value

An estimate of the market value of an asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.