Table 7-11 -Refer to Table 7-11

question 143

Multiple Choice

Table 7-11
$\begin{array}{|c|c|}\hline \begin{array}{c}\text { Hourly Rental } \\\text { Rate (dollars) }\end{array} & \begin{array}{c}\text { Quantity Demanded } \\\text { (hours) }\end{array} \\\hline \$ 60 & 40 \\\hline 75 & 32 \\\hline 80 & 30 \\\hline 100 & 24 \\\hline\end{array}$
-Refer to Table 7-11.Katie Graham owns a kayak rental service in Santa Barbara.Table 6.5 shows her estimated demand schedule for kayak rentals per week.She would like to increase her sales revenue by changing the price she charges for rentals.At present she charges $75.Based on the information in the table,Katie

• A) is not able to increase her revenue by changing her price because the demand for kayak rentals is unit elastic.
• B) should lower her price to $60 to increase her revenue because the demand for kayak rentals is price elastic.
• C) should raise her price to $80 to increase her revenue because the demand for kayak rentals is price inelastic.
• D) should raise her price to earn the most revenue.

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Definitions:

Idealized Influence

A component of transformational leadership where leaders act as role models and earn the admiration, respect, and trust of their followers.

Humane Orientation

A leadership approach that prioritizes compassion, supportiveness, and understanding towards employees.

Social Support

Assistance and encouragement provided by a network of family, friends, colleagues, and others, which can be crucial for mental health and achieving goals.

Community Values

Core beliefs and moral standards shared within a defined community, guiding its members' behavior and interactions.