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Disk Replacement Services has just completed a procedure manual on how to handle employee grievances.One of the main directives is to make it clear to employees that rules will be administered fairly and consistently.This directive illustrates use of the ______ approach.
Midpoint Method
A technique used in economics to calculate elasticity by averaging the percentages of change in both quantity and price.
Price Elasticity
A gauge for assessing how the demand or supply levels of an item react to price alterations.
Income Elasticity
A measure of how much the demand for a good or service changes in response to a change in income.
Inferior Good
A good for which a rise in income decreases the demand for the good.
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