When Demand Is Elastic, a Fall in Price Causes Total

question 253

Multiple Choice

When demand is elastic, a fall in price causes total revenue to rise because

• A)when price falls, quantity sold increases so total revenue automatically rises.
• B)the increase in quantity sold is large enough to offset the lower price.
• C)the percentage increase in quantity demanded is less than the percentage fall in price.
• D)the demand curve shifts.

Recognize the impacts of reward and punishment on organizational behaviour and performance.

Describe the benefits and processes involved in mentoring relationships within organizations.

Analyze the effectiveness of different reward systems and their influence on cooperation and competition among employees.

Understand how performance management and appraisal systems contribute to organizational effectiveness.

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Definitions:

Hydrogen Ions

Positively charged atoms of hydrogen, which contribute to acidity when present in high concentrations in solutions.

Acids

Substances that release hydrogen ions (H+) when dissolved in water, typically having a sour taste and capable of turning blue litmus paper red.

Bases

Chemical substances that can accept hydrogen ions (H+) and are characterized by a pH greater than 7 when dissolved in water.

Hydrophilic

Describing molecules or substances that have a natural affinity for water and can dissolve in or absorb water easily.