Companies Begin to Find That Customers,when Calling Customer Service,want to Talk

question 45

Multiple Choice

Companies begin to find that customers,when calling customer service,want to talk to real people rather than to a recording.The demand for receptionists will ________ and the market equilibrium wage will ________.

• A) fall; fall
• B) increase; fall
• C) stay the same; rise
• D) decrease; rise
• E) increase; increase

---

Definitions:

Good Substitutes

Products or services that can be used in place of one another, satisfying the same needs or wants of the consumer.

Elastic

Describes demand or supply that is highly sensitive to changes in price; a small change in price leads to a large change in the quantity demanded or supplied.

Perfectly Inelastic

Describing a situation where demand or supply does not change in response to changes in price.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price.