If the Equilibrium Price of an Hour with a Personal

question 140

Multiple Choice

If the equilibrium price of an hour with a personal trainer is $45 and the market price is currently $55,then there is

• A)a surplus of personal trainers
• B)a shortage of personal trainers
• C)equilibrium

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Definitions:

Organizational Strategy

A comprehensive plan outlining how an organization will achieve its goals and fulfill its mission over a period of time.

Executive Teams

Groups of individuals at the highest level of organizational leadership who are responsible for the strategic directions and decisions.

Diverse Products

A wide range of different products offered by a company to meet various customer needs and preferences.

Intense Competition

Refers to a market condition where companies or entities aggressively vie for customers, market share, or resources, often leading to innovative products and services but also aggressive marketing and strategic actions.