Suppose a Decrease in the Supply of Bottled Water Results

question 102

Multiple Choice

Suppose a decrease in the supply of bottled water results in a decrease in revenue.This indicates that

• A)the demand for bottled water is inelastic in the price range considered.
• B)the demand for bottled water is elastic in the price range considered.
• C)the supply of bottled water is inelastic in the price range considered.
• D)the supply of bottled water is elastic in the price range considered.

---

Definitions:

Organizations

Structures or systems where individuals work together towards common goals or objectives, often with defined roles and hierarchies.

1960s and 1970s

Decades known for significant social change, civil rights movements, and cultural revolutions around the world.

Organization Life

Refers to the cyclical stages through which an organization passes, including inception, growth, maturity, and decline or renewal.

Organizational Culture

The set of shared values, beliefs, and practices that characterizes an organization and influences its members' behavior.