-Refer to the Above Graph to Answer This Question

question 104

Multiple Choice

-Refer to the above graph to answer this question.What is true about the possible surpluses and shortages in this market if the price is $1,000 above equilibrium?

• A)There will be a shortage of 20.
• B)There will be a shortage of 40.
• C)There will be a surplus of 20.
• D)There will be a surplus of 40.
• E)Cannot be determined.

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Definitions:

Flexibility

The quality of being able to change or be changed easily according to the situation, often in response to different problems or conditions.

Adaptability

The quality of being able to adjust to new conditions or environments, and the capacity to deal with various changes.

Added Value Negotiating (AVN)

A negotiation strategy that focuses on increasing the overall value of the deal for all parties involved, instead of merely haggling over existing value or resources.

Nadler-Tushman Model

An organizational diagnosis model that focuses on understanding how changes in one part of the organization affect other parts, featuring input, process, and output components.