The Time and Money Expended for Training Will Increase in the Future

question 49

Multiple Choice

The time and money expended for training will increase in the future for all of the following reasons EXCEPT:

• A) undereducated youth will be needed for entry-level jobs.
• B) a power shift away from the customer.
• C) transfer of mission-critical knowledge to those who remain will become a top priority.
• D) underutilized minorities will be entering the workforce.

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Definitions:

Elastic

Describes a situation in which the quantity demanded or supplied of a good or service is significantly affected by changes in its price.

Pure Monopolist's Demand Curve

A graphical representation showing how a monopolist's quantity sold varies with price, typically downward sloping, reflecting that the monopolist can set prices above marginal costs.

Elastic

A characteristic of a good or service indicating that its demand or supply is sensitive to changes in price.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.