FIGURE 4-2 -Refer to Figure 4-2.In Diagram 3,the Elasticity of Demand Between

question 103

Multiple Choice

FIGURE 4-2
-Refer to Figure 4-2.In diagram 3,the elasticity of demand between prices $10 and $20 is

• A)0.
• B)less than 1.
• C)exactly 1.
• D)greater than 1.
• E)infinity.

---

Definitions:

Continuous Improvement

A sustained endeavor to refine products, services, or processes through gradual and revolutionary enhancements.

Performance Management

Is a continuous process of identifying, measuring, and developing the performance of individuals and teams, through genuine feedback, mentoring and training, and ensuring alignment of every single job in the organisation with the strategic goals of the organisation.

High Standards

The principles or criteria that must be met to achieve excellence or superior quality in a task, product, or behavior.

Stockholders

Individuals or entities that own shares in a corporation, giving them a stake in the company's performance and decisions.