At a Price of $5,Sam Buys 10 Units of a Product.When

question 33

Multiple Choice

At a price of $5,Sam buys 10 units of a product.When the price increases to $6,Sam buys 8 units.Martha says Sam's demand has decreased.Is Martha correct?

• A)Yes, Martha is correct. Sam's demand has decreased.
• B)No, Martha is incorrect. Sam's demand has increased.
• C)No, Martha is incorrect. Sam's quantity demanded has decreased, and his demand has not changed.
• D)No, Martha is incorrect. Sam's quantity demanded has increased, and his demand has increased.
• E)No, Martha is incorrect. Sam's demand has increased, and his quantity demanded has decreased.

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Definitions:

Employee Resistance

Opposition or pushback from employees towards changes within an organization, often due to fear of the unknown or perceived negative impacts.

Resources Required

The necessary inputs or assets needed to complete a task, project, or production, including time, money, and materials.

Target Costing

A pricing method that involves subtracting a desired profit margin from a competitive market price to determine allowable production costs.

Cross Functionality

Describes a scenario where individuals or groups from different specialties or departments work together towards a common goal.