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In a Short Essay,describe What a Manager Can Do to Make

question 9

Essay

In a short essay,describe what a manager can do to make effective decisions in today's fast-moving world.Give examples for each to illustrate your answers.


Definitions:

Midpoint Method

A technique used to calculate the elasticity of demand or supply between two points on a curve by using the average of the two points.

Total Revenue

Total revenue refers to the total amount of money generated by a business or organization from its activities, often from sales of goods or services, before any expenses are subtracted.

Demand Elasticity

A metric for assessing the reaction of a good's demanded quantity to its price adjustments.

Income Elasticity

A measure of how the demand for a good or service changes with a change in consumers' income.

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