Competitive Price Decreases Are More Likely to Be Followed by a Company

question 60

Multiple Choice

Competitive price decreases are more likely to be followed by a company when _______.

• A)excess demand exists
• B)brand fall compatible with image
• C)there are price insensitive customers
• D)harvest or hold objective exist

Determine the priority of claims between secured creditors and lien holders.

Comprehend the legal options available for creditors and repair persons in the event of non-payment for services or debts.

Recognize laws governing wage garnishment and the role of federal and state laws.

Explain the role and procedure of securing interests through consensual liens.

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Definitions:

Elasticity of Supply

A measure of how much the quantity supplied of a good changes in response to a change in the price of that good.

Price Elasticity

The degree to which the demand for a good is responsive to changes in its price.

Tax Passed

Occurs when the burden of a tax is shifted from the entity legally responsible for it to another party, such as consumers.

Import Quota

A regulatory measure that sets a physical limit on the quantity of goods that can be imported into a country over a specified period of time.