At a Price of $2,000 Per Unit, the Demand for Rancho

question 57

Multiple Choice

At a price of $2,000 per unit, the demand for Rancho 60 mountain bikes from Cloyd's Inc. is 300 units, which is same as the number of bikes manufactured every year. If the marketing managers at Cloyd's Inc. decide to sell each bike at a price lower than $2,000 per unit, _____.

• A)a shortage of bikes will be created
• B)the number of bikes produced will increase drastically
• C)an inelastic demand for the bikes will be created
• D)the demand for and the supply of the bikes will attain equilibrium

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Definitions:

Unduly Influencing

The act of unfairly persuading or manipulating someone's decision or opinion, typically beyond reasonable bounds.

Trait Approach

A perspective in leadership studies focusing on identifying specific qualities or characteristics that distinguish effective leaders from others.

Authoritarian Leadership

A leadership style characterized by individual control over all decisions with little input from group members.

Democratic Leadership

A leadership style in which the leader makes decisions based on the contribution and consensus of a group, promoting participation, equality, and shared responsibility among team members.